...is to ignore the problem and do nothing (commonly called the self-pay program). This is the most popular choice because in excess of ninety percent of seniors have this plan according the National Bureau of Economic Research. To be fair, plan one is not what seniors choose or want, they just default to this plan when they don't qualify for, or can't afford plan two.
The self-pay plan works just like it sounds. The individual does nothing, and prays they will not be one of the 70% that needs this form of care. Most people can do the math. They know the odds are great that they will need care at some point in their lives. They know their financial status, and they know a nursing home will cost in excess of $6,000 or more each month should they ever need care. Most families can see within a year or two everything can be lost paying for care. This is not what seniors want.