U.S. Senator Bob Corker is backing the proposal of a fellow Tennessee lawmaker across party lines, in an effort to inform taxpayers on Medicare costs – how much they pay in, and how much they take out.
The Republican Corker just introduced a Senate version of a bill sponsored in the House by Nashville Democrat Jim Cooper. Rep. Cooper’s so-called MedInfo Act would give eligible taxpayers and Medicare recipients summaries of their lifetime contributions and benefits from Medicare.
Sen. Corker says providing Americans that kind of information is vital:
“So that they will know how much they’re paying into the program and over time how much they’ve taken out. Again, I think this type of transparency allows Americans to fully understand how these programs work.”
The summaries would be sent by email or by post, and would be included in the same mailing for people who already receive Social Security statements. The Congressional Budget Office hasn’t given an estimate of the proposal’s cost, but Sen. Corker’s office offered the following:
This bill only adds information to an existing Social Security document that is sent to Americans and does not authorize any new funds. The Social Security Administration is responsible for producing the statement and determining how it is distributed within its existing budget.
–
Rep. Cooper’s fellow sponsor of the MedInfo Act in the House is Republican budget committee Chairman Paul Ryan.
On Air - 90.3 WPLN-FM