British Columbia Medical Services Plan Notice of Premium Rate Increase for 2014
To: Compensation Managers, Heads of Human Resources, Participating Employers
The purpose of this notice is to inform you of the British Columbia Medical Services Plan monthly premium rate increase effective in accordance with Table A.
Under British Columbia's Medicare Protection Act, premiums are required on or before the last day of the month proceeding the period for which the beneficiary is enrolled. As a result, please ensure the necessary pay system changes have been made to withhold and remit these new premium amounts in December 2013 for coverage.
|Employee $$||Employer $$||Total Premium $$|
|Where an Employee/Pensioner's Adjusted Net Income Exceeds $30,000.|
|Employee and one dependant||$60.25||$62.75||$60.25||$62.75||$120.50||$125.50|
|Employee and more than one dependant||$66.50||$69.25||$66.50||$69.25||$133.00||$138.50|
Premium assistance exists for residents whose net income (or a couple's net income) is below $30,000 for the preceding tax year, adjusted for: age, family size and disability. If eligible for the reduced rates, the resident will pay the reduced premium directly to the provincial health plan. At the end of the year, these employees and pensioners may apply for the appropriate Employer contribution.
For your information the income ranges have also been adjusted effective in accordance with Table B. Five levels of assistance are available based on adjusted net income for the previous tax year.
|Adjusted Net Income||Subsidy Codes||Subsidy Level||One Person||Family of Two||Family of Three or More|
|$ 0 - $22,000||A||100% premium assistance||$0.00||$0.00||$0.00|
|$22,001 - $24,000||B||80% premium assistance||$12.80||$23.20||$25.60|
|$24,001 - $26,000||F||60% premium assistance||$25.60||$46.40||$51.20|
|$26,001 - $28,000||G||40% premium assistance||$38.40||$69.60||$76.80|
|$28,001 - $30,000||E||20% premium assistance||$51.20||$92.80||$102.40|
|Over $30,000||C||Full premium rate||$69.20||$125.50||$138.50|
Departmental pay and pension system amendments are required. All employees and pensioners in British Columbia should be immediately informed of this new rate structure.
Should you have any questions regarding this notice, please contact Treasury Board of Canada Secretariat, Pensions and Benefits Sector at email@example.com.
Assistant Deputy Minister
Pensions and Benefits Sector
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