Each year special risk retirees can withdrawal up to $3,000 to be paid directly to your insurance carrier for premiums, this $3,000 will not be federally taxed. If you normally pay 20% in income tax this would save up to $600 each year in tax payments!
To Qualify:
Be a fully retired eligible public safety officer
o LawEnforcement
o Firefighter
o Member of rescue squad or ambulance crew or corrections
o Border/Customsofficer
Separate from service after reaching normal retirement age (Usually age 55 or 25 years of svc)
Distribu9on must come from eligible plan (401(a), 403(b), 457(b))
Paid directly to Health Insurance company (Request form from eligible Re9rement plan(457))