Some experts predict that Medicare will become insolvent as early as 2016. To meet the fiscal challenge of Medicare, which the Congressional Budget Office has determined to be one of the largest facing our country, Sen. Tom Coburn, M.D., (R-Okla.) has introduced the Seniors’ Choice Act, which aims to reduce costs through competitive bidding for benefits and increasing cost-sharing by wealthier Americans.
Sen. Coburn addressed these issues and pointed the way to reform at a Hudson Institute breakfast on March 15.
Coburn, a physician-legislator elected to the Senate in 2004 after three terms in the House of Representatives, understands the challenges for doctors, patients, and the government: ensuring top medical service, allowing patient choices, and containing cost. The Senator is widely known for his independence and his opposition to waste in federal spending.