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MSP Premium Cut Kicks In January 1, 2018

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Victoria/Fraser Valley – ICYMI – A promise from the Horgan government kicks in this weekend.

Medical Services Plan (MSP) premiums will be cut by 50% on January 1, 2018.

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 January 1, 2018.

In November 2017, the Minister of Finance established a task force to examine the best approach to replacing the revenue from eliminating MSP premiums. The task force is comprised of respected experts in economics, law and public policy, to advise on the best path to eliminating MSP premiums. Government will receive its report by March 31, 2018.

  • Enhancements to premium assistance, effective Jan. 1, 2018, mean:
    • 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.

For more about the MSP Task Force and to submit your ideas: https://engage.gov.bc.ca/msptaskforce/

Find out if you are eligible for premium assistance using the online eligibility calculator: https://www2.gov.bc.ca/msp/eligibilitycalculator/

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