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If you have a higher income, youll pay an additional premium amount for Medicare Part B and Medicare prescription drug coverage. We call the additional amount the income-related monthly adjustment amount.
File Form 4029 when you want to apply for exemption from social security and Medicare taxes.
If your annual income is over $97,000 as a single (or $194,000 as a single parent/couple/family) and you or any of your dependants dont have an appropriate level of hospital cover, you may need to pay the Medicare Levy Surcharge.