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Home / 2018 / Province takes another step towards eliminating MSP premiums
Province takes another step towards eliminating MSP premiums
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Province takes another step towards eliminating MSP premiums

New legislation tabled today marks another step in the provincial government’s plans to eliminate Medical Service Plan premiums.

Today’s legislature saw the government table their Employer Health Tax Act, which shifts the cost of medical premiums from individuals to businesses.

800 million dollars in tax savings to both individuals and businesses are expect with the shift, which more closely aligns BC’s system with other provinces.

Under 5 percent of businesses in BC are expected to pay the full EHT premium of 1.95 percent, while most small businesses will be protected by a 500 thousand dollar tax exemption.

The government hopes to phase out MSP premiums entirely by 2020, saving British Columbians as much as 900 dollars per year.

About Jeff Blagden

News Reporter/ Anchor. Originally from Hamilton, Ontario, Jeff has a background in sports journalism, and radio hosting. He comes most recently from his post as a morning show host in Chetwynd.

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