EDITORIAL: MSP cut should bring a benefit

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 has now been put in place, effective 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.

Premium deductions for those who qualify, including a $3,000 deduction for a beneficiary 65 years of age or older and $3,000 for a spouse 65 or older, would remain in place.

Among wage-earners, 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 its current 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 a number on Vancouver Island.

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. More dollars in pockets tend to become more dollars circulated through our local economies.

— Black Press

Just Posted

Qualicum Beach gaming company awarded virtual reality game of the year

Cloudhead Games lauded as it teases new project with ‘industry giant’

Parksville martial arts student earns first international gold

Training pays off for Cascadia Martial Arts pupil Gucela

Single-use retail plastic bags to be banned in Parksville March 1

Over the next few months, the city will undertake public education outreach

Retail pot business interest in Parksville

City gets two referrals for licences; QB expected to have first cannabis store soon

Singer k.d. lang receives Alberta’s highest honour

Celebrated singer-songwriter k.d. lang received the Alberta Order of Excellence in Edmonton

B.C. jury finds man guilty of Japanese exchange student’s murder

Natsumi Kogawa was found at empty heritage mansion shortly after she was reported missing in 2016

B.C. man accused of killing Belgian tourist along Highway 1 appears in court

Sean McKenzie, 27, made second court appearance since his arrest in connection with the murder of Amelie Sakkalis

Colourfully named cannabis products appeal to youth, Tory health critic says

Conservative health critic Marilyn Gladu says the Liberal government needs to do more to ensure cannabis products available online are not enticing to young people

Trial set for man charged with decades-old murder of B.C. girl

Garry Handlen accused of killing Merritt girl; also charged with Abbotsford murder

Bernardo-like sexual deviancy poorly understood, expert says

What exactly causes such deviance is not known but some evidence exists of physical brain damage to the front part of the brain

B.C. high school teacher faces sexual assault charges

A Mt. Boucherie teacher has been charged with child luring, sexual exploitation and sexual assault.

Fashion Fridays: You can never have enough shoes

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

Ex-B.C. cop caught in Creep Catchers sting gets house arrest

Dario Devic pleaded guilty after getting caught up in Surrey Creep Catcher sting in Whalley in 2016

Most Read