5. Medical Service Plan Related Changes
Starting January 1, 2017:
- Premiums stay the same as 2016 - $75 per month
- Children will not include in the calculation of MSP premiums. Therefore, for single parent with children will be fixed at $75 per month rather than $150 per month. For couple with children, the
amount will be the same as before - $150 per month.
- MSP premium rate paid by couples will be double of the single adults. Therefore, the amount will increase from $136 to $150 monthly for couples with no children.
- Income threshold for receiving full premium assistance has increased by $2,000 to $24,000.
- The maximum income threshold before full premium for individual or couple is up to $42,000 while for senior couple is up to $48,000.
For more information, please contact us @ 604-639-3229 or email@example.com
Note: All information relating to MSP above is available from BC
By Theresa Lo, CPA, CGA
October 11, 2017