The bill empowers each worker age 50 and below with the freedom to choose a contribution to a personal savings and investment account equal roughly to half of the employee share of the Social Security payroll tax.
Workers would be empowered with the freedom to choose them in place of employer provided coverage, the poor would be empowered to choose them for their Medicaid coverage, seniors would be empowered to choose them for Medicare.
For example, for 30 years now the South American nation of Chile has demonstrated the enormous benefits to working people of empowering them with the freedom to choose personal savings, investment and insurance accounts in substitution for old fashioned social insurance programs hailing intellectually out of the late 19th century.