Congressman Jim Cooper (D-TN) introduced H.R. 1252, the bipartisan "Medicare Information Act" (MedInfo Act), with Congressman Paul Ryan (R-WI), Chairman of the House Budget Committee. Every year, American taxpayers receive a Social Security statement that provides a concise, user-friendly record of their total contributions and a summary of their estimated lifetime benefits. Taxpayers deserve to receive the same information from Medicare, and the "MedInfo Act" requires a summary to be included with their annual Social Security statement.
"Most people are glad to know they will receive far more in benefits from Medicare than they contribute to the program," said Congressman Jim Cooper. "Every American should know more about how Medicare really works. Medicare is one of our most important benefits. We must protect it for older Americans, and preserve it for our children and grandchildren."
The "MedInfo Act" would provide a complete breakdown of lifetime Medicare contributions and benefits for everyone 25 and older. The annual statement would be sent in conjunction with the current Social Security statement. This information will facilitate greater understanding of the Medicare program.
"It is critical that policymakers start working together to save Medicare for current and future generations," said Chairman Ryan. "The millions of Americans who depend on this critical program deserve access to timely, accurate information about what contributions they have made and what benefits they have received or can expect to receive in the future. This bipartisan legislation aims to educate taxpayers and provide them with the information they deserve."