British Columbians will get a financial break to kick off the New Year.
Medical Services Plan payments are being cut by 50 percent on January 1st.
The Provincial Government says individuals will save up to 450 dollars per year while families will save up to 900.
For example, a single adult earning 42 thousand dollars who was paying 75 dollars a month will now pay only 35, while two adults in a family earning 42 thousand dollars who were paying 150 dollars a month, will now pay just 75.
In addition to the cuts, the income threshold for full exemption is also going up by two thousand dollars.
That means that an individual earning less than 26 thousand dollars a year won’t pay as well as a couple earning 29 thousand or less and a senior couple earning up to 35 thousand dollars.
A single parent with two children earning 32 thousand dollars or less and a couple with two children earning 35 thousand dollars or less also won’t pay MSP.
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