FORT ST. JOHN, B.C. – The BC Government announced today that they are cancelling the 4% increase to MSP premiums as previously announced.
Also, those that are eligible for Regular Premium Assistance will see a 4% reduction of their premium, beyond what was originally announced in Budget 2016.
Finance Minister Micheal De Jong says that the changes can be made because the government is in a better fiscal situation than what was also said in Budget 2016, meaning the surplus is growing.
With the government cancelling the 2017 MSP increase, it will save adults around $36 per year.
The enhancements that were announced with budget 2016 will continue to be put into effect as planned on January 1st of 2017. The government is letting children be exempt, and they made the range of income bigger, for those British Columbians that can qualify for Regular Premium Assistance.
As a result of the changes that were made today, the government says around 40% will pay reduced premiums, or no premiums at all. Businesses will also not have to make payroll adjustments to those who have MSP paid for by their company.