Finance Minister Carole James is beginning to phase out Medical Services Plan premiums, which accounted for 17 per cent of B.C. health care spending in the past year. (Tom Fletcher/Black Press)

EDITORIAL: Fingers crossed for benefits from lower MSP premiums

Residents in Victoria, across B.C. may have more in their pockets at the end of the month

We’ve known for several months that the province would be reducing medical services plan premiums by a healthy amount – 50 per cent – but the strategy was put in place as of Jan. 1.

Call it a late Christmas present, but it’s the gift that may keep on giving for B.C. residents and companies. Estimations are that the average two-adult family will save approximately $900 a year, while singles are expected to save roughly $450.

In Greater Victoria, a significant number of people have their premiums paid fully or partially by their employer, a payment classified as a taxable benefit. So both taxpayers and companies will appreciate the change.

We’re waiting to see how plans to recoup the lost revenue will affect taxpayers, especially when the province has committed $100 million a year to the fentanyl crisis and will spend about $200 million more on health care in general in each of the next three years.

One such revenue boost comes in the form of an increase to B.C.’s carbon tax on fossil fuels on April 1. The move will add 1.5 cents per litre to gasoline and slightly more for diesel fuel, for example.

The elimination of MSP altogether within four years will save the government payments to program administrator Maximus Corp, which signed a five-year deal in 2013 for $264 million. The flip side is that an estimated 360 jobs in B.C. – the number of employees listed on bctechnology.com – would be lost, including many in Victoria.

We ascribe to the fact that nothing in life comes for free, and for the drivers among us, there’s a good chance the lower MSP premiums and the higher gas prices will cancel each other out.

But we’re keeping our fingers crossed that for the majority it translates into a few extra dollars in our pockets at the end of the month, a scenario that would benefit more than simply individuals or couples.

Just Posted

Shoebox Project reaches out to women in crisis

Boxes are distributed to transition homes

Colwood mayor pitches ferry as commuter alternative

Mayor Rob Martin says different modes of transportation need to be considered

Kelly Ellard’s boyfriend has statutory release revoked

Darwin Duane Dorozan had several parole infractions that found him ‘unmanageable’

Bouquet sales support big dreams in Greater Victoria

Country Grocer features holiday bouquets for Help Fill a Dream

Emerald Gloves boxing brings fights to Langford

Langford’s Matt Daniels dropped weight for debut

Unique technology gives children with special needs more independent play

UVic’s CanAssist refined seven prototypes aided by $1.5M government contribution

Canada’s health system commendable overall but barriers to care remain: UN

The United Nations says Canada’s health care system is “commendable” overall but vulnerable groups still face barriers to quality care.

Doctor’s note shouldn’t be required to prove you’re sick: poll

70% of Canadians oppose allowing employers to make you get a sick note

Port Alberni convenience store robbed

Police still searching for suspect

German-born B.C. man warns against a ‘yes’ vote on proportional representation

Agassiz realtor Freddy Marks says PR in his home country shows party elites can never be voted out

Fashion Fridays: 5 coats you need this winter!

Kim XO, lets you know the best online shopping tips during Fashion Fridays on the Black Press Media Network

Saskatchewan college honours memory of Humboldt Broncos coach

Darcy Haugan wore jersey No. 22 when he was a star player with the Briercrest College Clippers

Liberals to act quickly if Saturday midnight deal deadline breached: source

Oh Friday, Canadian Union of Postal Workers said it would not bring the latest offers to a vote of its members

Police probe several allegations of sex assault at Toronto school

Police say they have learned of other incidents of alleged assault and sexual assault

Most Read