Medical, pension payments up in 2014

Medical premiums for all but low-income B.C. residents go up again with the start of a new year.

Medical Services Plan premiums go up four per cent effective Jan. 1

Medical premiums for all but low-income B.C. residents go up again with the start of a new year.

The B.C. government is increasing its Medical Services Plan premiums for the fifth straight year, by four per cent across the board. The Canadian Taxpayers’ Federation released its annual survey of tax and other payroll deductions Monday, calculating that MSP premiums in B.C. have risen 28 per cent since 2010.

Effective Jan. 1, the monthly health premium for a single person rises from $66.50 to $69.25. In 2014, families of two pay $125.50, up from $120.50, and families of three or more pay $138.50, up from $133.00.

Many full-time employees have their MSP premiums paid by their employer. People earning $30,000 or less are eligible for reduced premiums on a sliding scale, with premiums eliminated for those earning $22,000 a year or less.

The B.C. government has used the increased MSP revenues to offset the long-term growth of health care costs, which are approaching half of the total provincial budget.

Finance Minister Mike de Jong’s 2013 budget projected health spending to increase 2.3 per cent in the current fiscal year, 2.7 per cent in the year beginning April 1 and only 2.2 per cent the following year. The government’s critics called that unrealistic after years of increases of more than five per cent.

The CTF reports that Canada Pension Plan and Employment Insurance payments are also going up for many people, despite a federal government pledge to freeze EI premiums for three years.

In its New Year Tax Changes report, it calculates that maximum EI premiums will go up $23 in 2014, totalling $914 for the year.

The maximum employee Canada Pension Plan deduction, charged to those earning $52,500 or more, goes up $70 to $2,426. Employers match employee CPP payments dollar for dollar.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Boulders near Harrison vandalized with derogatory word

Vandalism likely occured between Sunday evening and Tuesday evening

First rainstorm of the season pelting the Lower Mainland

Batten down the hatches as heavy rains, wind, and some localized flooding possible

Irish folk supergroup Kíla set to perform on Saturday

Online concert will be available through Harrison Festival Society

Reported Kelowna Hells Angels member dies in Fraser Valley motorcycle crash

Michael “Speedy” Christiansen was found dead on Monday morning near Ruby Creek on Highway 7

B.C. reports 91 new cases as officials remain worried over ‘clusters of COVID-19

There have now been a total of 8,395 cases in B.C. since the pandemic began

Canada’s active COVID-19 cases top 10,000 as daily new cases triple over the past month

Dr. Tam repeated her warning to young people, who have made up the majority of recent cases

First 8 months of fatal overdoses in B.C. have now exceeded 2019 death toll

Nine people died every two days in August, BC Coroners Service data shows

Liberal effort to reset policy agenda panned by rivals as too much talk, not action

Trudeau said it’s ‘all too likely’ families won’t be able to gather for Thanksgiving next month

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

‘Show us the money’ for cannabis, local governments tell B.C.

Municipal tax, transit revenues falling as costs rise

Young man assaulted, left for 12 hours until help called in Vancouver’s Strathcona Park

Vancouver police are looking to identify the victim as they investigate an assault on Monday evening

‘It’s a boy’: Southern Resident killer whale calf born to J Pod is healthy, researchers say

J35 had previously done a ‘Tour of Grief,’ carrying her dead calf for 17 days

Most Read