Governor Wes Moore of the state of Maryland signed two bills: one is the Health Care For Heroes Act, a Tricare reimbursement program. The second raises the military tax exemption from $5,000 to $12,500 for individuals under 55 and from $15,000 to $20,000 for individuals aged 55 and older.
shorenewsnetwork.com ~ "first bill, H.B. 553/S.B. 554, known as the Health Care for Heroes Act of 2023, establishes the Tricare Premium Reimbursement Program within the Maryland Military Department. This program is specifically designed to assist members of the Maryland National Guard who utilize the Tricare Reserve Select health care plan and the Tricare Dental Program. Under this program, eligible individuals will receive monthly reimbursements of up to $60 to cover the costs of their health care and dental care premiums. This reimbursement amount is sufficient to cover the full individual costs of these services.
The second bill, H.B. 554/S.B. 553, referred to as the Keep Our Heroes Home Act, focuses on increasing the military retirement income tax exemption for veterans, spouses, and anyone receiving military pensions in Maryland. The new law raises the exemption amount from $5,000 to $12,500 for individuals under the age of 55 and from $15,000 to $20,000 for individuals aged 55 and older. This exemption will provide additional financial relief for military retirees and their families, helping to alleviate the tax burden on their retirement income.
These bills highlight the commitment of Governor Wes Moore and the state of Maryland to supporting and honoring military servicemembers and veterans. By establishing the Tricare Premium Reimbursement Program and increasing the military retirement income tax exemption, Maryland aims to provide tangible benefits and improved access to essential healthcare services for its servicemembers and their families. These initiatives recognize the sacrifices made by military personnel and seek to ensure their well-being and financial stability as they transition into civilian life." ~shorenewsnetwork.com.
Source: www.shorenewsnetwork.com/Maryland Governor signs two laws to help service members and veterans
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