Premium rates for the provincial Medical Services Plan (MSP) are increasing, effective Jan. 1, 2011. UBC Employees who pay their MSP premiums through payroll deduction will see the increased cost on their Dec. 31, 2010 paycheque.
The new premiums will increase by $3.50 per month for individuals and $7 per month for couples and families. The new rates are:
- Single: $60.50
- Couple (family of two): $109.00
- Family (family of three or more): $121.00
The UBC employer and employee cost-sharing percentages for calculating MSP premium deductions will remain unchanged. For example, employees who pay 75% of the MSP monthly premium will continue to pay 75% of the new premium rate. Please note that MSP deductions are taken one month in advance, so you will see the increased deduction on the Dec. 31, 2010 paycheques for employees who pay the full or partial cost.
For a detailed list of the adjusted monthly rates by employee group and premium cost-sharing arrangement, please visit the UBC Human Resources Benefits Premium Rates page.