Sen. Tom Coburn (R-OK) spoke about the "Seniors' Choice Act," a bill he co-authored with Sen. Richard Burr (R-NC) to preserve Medicare, during a morning Hudson Institute breakfast discussion.
The bill, submitted to the Senate in mid-February, draws on recommendations of President Obama’s bipartisan Fiscal Commission and aspects of the Lieberman-Coburn Medicare Reform proposal and the Wyden-Ryan proposal.
The Coburn-Burr proposal would set a maximum limit on seniors' out-of-pocket medical expenses under Medicare Parts A and B and would offer premium supports, or federal subsidies, to pay for private insurance plans directly competing with traditional Medicare fee-for-service plans.
Sen. Coburn, a physician specializing in family medicine, was elected to the Senate in 2004.