Premiums cut in half, as of January 1st
Medical Services Plan (MSP) premiums will be cut by 50% on Jan. 1, 2018, marking an important step toward improving fairness for all British Columbians, Finance Minister Carole James said today.
“MSP premiums are unfair and place a significant burden on British Columbians,” James said. “I’m proud that we are moving away from these regressive fees and creating a more equitable system by eliminating MSP premiums entirely within four years.”
In addition to the 50% rate cut, the income threshold for full exemption from MSP premiums under the premium assistance program will also be raised by $2,000, as of Jan. 1, 2018.
Additionally:
- An individual earning up to $26,000 per year will pay no premiums.
- A couple earning up to $29,000 per year will pay no premiums.
- A senior couple earning up to $35,000 per year will pay no premiums.
- A single parent with two children earning up to $32,000 per year will pay no premiums.
- A couple with two children earning up to $35,000 per year will pay no premiums.
