Retirees drawing a pension may be able to deduct some or all of your accident, health, or long-term care premiums if payments are made directly to the insurer.  The IRS moved this info to Publication 575 this year. Make sure you consult with your accountant on how to handle this.

IRS Publication 575 – 2014 Tax Year Info

Insurance Premiums for Retired Public Safety Officers
If you are an eligible retired public safety officer (law enforcement officer, firefighter, chaplain, or member of a rescue squad or ambulance crew), you can elect to exclude from income distributions made from your eligible retirement plan that are used to pay the premiums for accident or health insurance or long-term care insurance. The premiums can be for coverage for you, your spouse, or dependents. The distribution must be made directly from the plan to the insurance provider. You can exclude from income the smaller of the amount of the insurance premiums or $3,000. You can only make this election for amounts that would otherwise be included in your income. The amount excluded from your income cannot be used to claim a medical expense deduction.
An eligible retirement plan is a governmental plan that is:
•a qualified trust,
•a section 403(a) plan,
•a section 403(b) annuity, or
•a section 457(b) plan.
If you make this election, reduce the otherwise taxable amount of your pension or annuity by the amount excluded. The amount shown in box 2a of Form 1099-R does not reflect this exclusion. Report your total distributions on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. Report the taxable amount on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. Enter “PSO” next to the appropriate line on which you report the taxable amount.
If you are retired on disability and reporting your disability pension on line 7 of Form 1040 or Form 1040A, or line 8 of Form 1040NR, include only the taxable amount on that line and enter “PSO” and the amount excluded on the dotted line next to the applicable line.
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The federal law defines a public safety officer as someone who retired from a public agency while serving in one of the following official capacities:

“As a law enforcement officer involved in crime and juvenile delinquency control or reduction, or enforcement of criminal laws (including juvenile delinquency) also including, but not limited to, the work of police, corrections, probation, parole and judicial officers*; or as a firefighter; or as a chaplain of a police or fire department; or as a member of a rescue squad or ambulance crew” (Omnibus Crime Control and Safe Streets Act of 1968 (42 U.S.C. 3796b(9)(A)).

Interesting.  Thank you.  

Taxes?

Not there yet (got a while to go), but good looking out. Thanks.

Don't believe this applies if you're a retired FLEO, only state/local.