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 income. Premium 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
|
||||
| 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
|
|||
| 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