If you've heard the Medicare Levy is rising and you're wondering what that means for you — we've done the sums.

The Medicare Levy is a charge paid by most taxpayers to fund our public health system.

It's increasing by 0.5 per cent from July 2019 — up from 2 per cent to 2.5 per cent.

If you're currently exempt from paying the Medicare Levy, you'll still be exempt.

Here's how much extra you'll pay per year:

Here's what else you need to know:

• If you earn less than $21,655 as an individual, you're exempt from paying the Medicare Levy.
• If you earn less than $36,541 as a family, you're exempt. And you can earn an extra $3,356 per child before you're hit with the levy.
• The Government says the $8.2 billion the levy will raise over the next four years will fund the National Disability Insurance Scheme.