We received this information and wanted to pass it along to both our retiree members and active members... Federal law was changed in January and all retired law enforcement and fire/EMS can exclude up to $3,000 worth of medical insurance premiums from their taxable income. Below is a link with additional information and also an excerpt below another state's Troopers' Association. https://www.ncpers.org/blog_home.asp?Display=329 Please be sure your retired law enforcement and fire/EMS members are aware that they may reduce their taxable earnings by up to $3,000 for medical insurance premiums paid during a calendar year. This is allowable under the Healthcare Enhancement for Local Public Safety Retirees Act, or the “HELPS” Retiree Act. Previously, there was a requirement that the premium had to be deducted from the retiree’s pension check in order to qualify for HELPS credit. That is no longer the case following the adoption of the federal Secure 2.0 retirement law. Qualified premiums paid directly for health, accident or long-term care insurance qualifies for the credit in 2023 and beyond. The $3,000 reduction does not appear on the annual 1099R form that is sent out by the pension fund. The retiree must claim the reduction on his or her personal 1040 tax form on Line 5B or similar adjustment. Instructions on claiming the reduction are included in IRS Publication 575 (page 7 with an update on page 2). As this is not a simple matter, pensioners may want to consult with their tax preparer to properly claim the reduction. Note that married couples where both the parties are retired police/fire/EMS may take a reduction in income of up to $6,000. Let’s do what we can to ensure that our retired members can take advantage of this tax break for retiree medical insurance. Please share this information with anyone who may benefit! While we cannot give you tax advice, we highly recommend reaching out to your tax advisor with the information below and they can assist you with any additional questions you may have. This is likely new to them, too, so please help us spread the word! Stay safe, Tara Tara Johnson Director of Operations & Benefits State Law Enforcement Bargaining Council STAN | NCOA | NSFMA PO Box 6729 Lincoln, NE 68506 Phone: 402.489.2081 Cell Phone: 402.440.8284 Fax: 402.500.3666 This email may contain confidential and privileged information for the sole use of the intended recipient. Any review or distribution by others is strictly prohibited. If you are not the intended recipient, please contact the sender and delete all copies.