S.773 - 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.110th Congress (2007-2008)
|Sponsor:||Sen. Warner, John [R-VA] (Introduced 03/06/2007)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 03/06/2007 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2710-2711) (All Actions)|
This bill has the status Introduced
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Summary: S.773 — 110th Congress (2007-2008)All Information (Except Text)
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.
Introduced in Senate (03/06/2007)
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.