Originally Posted by Montecfo
The only situation I can think of there is for estate taxes, which of course exempts a lot of folks. I sincerely doubt this will happen, but it certainly would be easy for financial institutions to report account balances. The means testing of social security generally ends up being an income test, where social security is taxed more heavily as income grows.
With government finances careening toward some future debacle, I would be more worried about government trying to tax retirement assets such as Roths which are supposed to be tax-free.
Let's hope these things do not come to pass. In the meantime, as a low-taxable income person, subsidized ACA makes a lot of sense for me-when we get there. Not yet retired.
Thanks, didn't think of estate tax - it's a bit out of the realm of anything I've expected to deal with. And the later-mentioned Medicaid spend-down situations, which I should have thought about having gone through it with my mother. The only asset-based disclosure that was coming to mind was in divorce situations, and I've seen how hairy those can be, with valuation of partnerships, small businesses and encumbered real estate holdings.
And I share the concern with Roth taxation - part of the reason I've prioritized ACA subsidy rather than Roth conversions.