H.R.1231 - 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.108th Congress (2003-2004)
Summary: H.R.1231 — 108th Congress (2003-2004)
Reported to House amended, Part I (07/07/2004)
Amends the Internal Revenue Code to allow: (1) an exclusion from the gross income of Federal civilian and military retirees for their cost of health insurance premiums; and (2) an income tax deduction from gross income (available to taxpayers whether or not they itemize deductions) for insurance premiums for supplemental health care coverage of military personnel, their spouses and dependents.
Requires the Director of the Office of Personnel Management and the Secretary of Defense to take necessary actions to ensure that the tax exclusion allowed by this Act is offered to Federal civilian and military retirees for the first open enrollment period beginning not less than 90 days after enactment of this Act.