Female doctor holding HEALTHCARE card

Changes to the MSP Premium Rates Coming Jan. 1, 2014

Posted on November 15, 2013

Effective Jan. 1, 2014, the British Columbia Ministry of Health will increase Medical Services Plan (MSP) premium rates by approximately 4% as follows:

Current 2013

MSP Monthly Rates

Eff. Jan. 1, 2014

MSP Monthly Rates

Single $66.50 $69.25
Couple $120.50 $125.50
Family $133.00 $138.50

What does this mean if you are enrolled under the UBC Group MSP plan?

View the Premium Rate Summary for your employment group that outlines the MSP monthly premium cost effective Jan. 1, 2014.  The cost is broken down by what you pay and what UBC pays.

Employees who pay all or a portion of their MSP premiums (i.e. 100% or 75% of the premium) through payroll deduction

The increase in premium or portion of premium you pay will appear on your Dec. 31, 2013, pay statement (premiums are taken one month in advance). You can view your pay statement online via the UBC Faculty and Staff Self Service website.

Employees for whom the employer pays all or a portion of their MSP premiums

The amount of your taxable benefit (Box 40) of your T4 income tax statement will be higher as a result.

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Comments

2 Responses to “Changes to the MSP Premium Rates Coming Jan. 1, 2014”

  1. Sylva Matiaskova November 26, 2013 at 9:25 am

    Why is there a 4% rate increase?
    MSP increases the rates YEARLY. Why?