Retired public safety officers may be able to exclude $3,000 from their taxes each year for health and long-term care insurance premiums. You must be an eligible public safety officer and have your premiums deducted from your monthly retirement payments.
The deduction program lets you have medical, vision, dental and long-term insurance premiums taken out of your monthly retirement payments. ETF takes that amount and pays it directly to your insurance provider. At the end of the year, ETF gives you a total of the premiums paid for the year, so you can use it for taxes. Up to $3,000 may be excluded from your taxes for the cost of the premiums.
To apply for this program, follow these steps:
- Make sure you are eligible by reading the Retired Public Safety Officer Insurance Premium Deduction Program Brochure (ET-4118).
- Fill out and sign the Retired Public Safety Officer Insurance Premium Deduction Form (ET-4330).
- Have your insurance provider complete their part of the form and turn it in to ETF.
For more information about this program, see Retired Public Safety Officer Frequently Asked Questions (ET- 4119).