Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

BC MSP Rates 2016 TaxTips.ca
Canadian Tax and
Financial Information
TaxTips.ca Home

What's New

Links & Resources

Site Map

Need an accounting, tax or financial advisor? Look in our Directory.  Use above search box to easily find your topic!   Stay Connected with TaxTips.ca!
Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Financial Freedom
Financial Planning
Registered Accounts
Real Estate
Investing
Seniors
Disabilities
Canada
US Tax Tips
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Prov/Terr Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources
Tax Rates/Credits   -> BC Tax   ->   BC Medical Services Plan (MSP)   -> BC MSP Rates 2016

BC MSP Rates 2016

The MSP rates increase by 4.2% effective January 2016.  Rates are based on adjusted net incomePremium assistance will also be enhanced effective January 1, 2016, to ensure those receiving assistance will not be affected by the increase.  The rates for 2016 for those paying less than the full premium are unchanged from the 2012 rates.  However, those who were able to increase their adjusted net income very slightly to over $30,000, so that they now pay the full rate, will have a 46% increase in annual premium in 2016.

You must apply to get the premium assistance - this is not done automatically based on the income reported on your tax return.  Unfortunately, this is not well known, and many people are not getting the premium assistance they need.  A senior couple with $36,000 of income is eligible for premium assistance, as $3,000 is deducted from income for each senior to arrive at adjusted net income.  There are also deductions for disabilities, children, and UCCB.  If you have friends, relatives or neighbours who you think may be eligible for premium assistance, please let them know that they have to apply for it.

BC Medical Services Plan Annual Premiums
2016

Adjusted Net Income
(individual or couple)
% of
Full Premium
One
Person
Family
of 2
Family of
3 or More
first $22,000 0% no premium no premium no premium
over $22,000 up to $24,000 17.1% $153.60 $278.40 $307.20
over $24,000 up to $26,000 34.1% 307.20 556.80 614.40
over $26,000 up to $28,000 51.2% 460.80 835.20 921.60
over $28,000 up to $30,000 68.3% 614.40 1,113.60 1,228.80
over $30,000 100% $900 $1,632 $1,800
 
Monthly rate (100%) $75 $136 $150
Increase from prior year 4.2% 4.2% 4.2%

BC Medical Services Plan Monthly Premiums
2016

Adjusted Net Income
(individual or couple)
One
Person
Family
of 2
Family of
3 or More
first $22,000 no premium no premium no premium
over $22,000 up to $24,000 $12.80 $23.20 $25.60
over $24,000 up to $26,000 25.60 46.40 51.20
over $26,000 up to $28,000 38.40 69.60 76.80
over $28,000 up to $30,000 51.20 92.80 102.40
over $30,000 75.00 136.00 150.00

Revised: October 26, 2023

Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  See What’s New, stay connected with TaxTips.ca by RSS or Email
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.