A bill to amend the Internal Revenue Code of 1986 to allow Federal civilian and military retirees to pay health insurance premiums on a pretax basis and to allow a deduction for TRICARE supplemental premiums.

Fact Sheet API

Bill Number

S 484

Introduced

Mar 1, 2005

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1875)

Sponsor

Cosponsors

Topics

Annuities Armed Forces and National Security Federal employees Finance and Financial Sector Flexible benefit plans Government employees' health insurance Government Operations and Politics Health Income tax Insurance premiums Labor and Employment Managed care Medical economics Military medicine Military pensions Retired military personnel Retiree health benefits Tax deductions Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to permit: (1) Federal civilian and military retirees to pay Federal Employees Health Benefits Program (FEHBP) and TRICARE supplemental premiums on a pretax basis (i.e., exclude premiums from gross income); and (2) a tax deduction (available to itemizers and nonitemizers) for TRICARE supplemental premiums or enrollment fees.

Directs the Director of the Office of Personnel Management (OPM) and the Secretary of Defense to ensure that the option of paying FEHBP and TRICARE supplemental premiums on a pretax basis is available to Federal civilian and military retirees for the first open enrollment period beginning not less than 90 days after the enactment of this Act.

Actions

Mar 1, 2005

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1875)
Mar 1, 2005

Sponsor introductory remarks on measure. (CR S1875)
Mar 1, 2005

Introduced in Senate

Amendments

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