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How do I add a Health Savings Account (HSA)?

I have an HSA set up by my employer to pay medical expenses that are not covered by insurance. I don't know how to add that account in Quicken. It's sort of a savings account and sort of a checking account, and it is tax free. How does this work?
    Don't have one personally right now (but trying to help someone at work who does)  here's my suggestion (this is what i'm doing as an experiment):

    1. Set up HSA as a brokerage account (as I understand HSA's, -depending on plan administrator - you can buy mutual funds etc with the cash balance) 
    2. Go to account details for your HSA select the option "show cash in a checking account" ( this will create a linked checking account to pay medical expenses from)  and I think "tax-deferred".
    3. Update your paycheck by adding a pre-tax deduction for the amount of your contribution and in the category field specify the name of your newly set-up HSA cash account as a transfer.
    4. If your employer matches any part of your contribution, set up an income reminder to automatically deposit that amount into your HSA cash account on the same schedule as your paycheck.

    I don' t know if this covers all the provisions of an HSA and would welcome any feedback - but this looks like this works on the surface.   
     Please let me know if you find this works for you or have any suggestions/problems.  
    • Thank you, andyb1, this is the solution I came to, also--though tying it to the the checking account didn't jump out at me because I have a debit card that will take money directly from the HSA.  

      A regular savings account won't suffice for my purposes, since I will need to track the investments on this account.  Because Quicken still does not expressly include HSAs (I'm hoping that when I upgrade to 2013 that I at least find the HSA tax schedule included) I will keep an eye on my deposits to ensure I don't exceed the annual maximum.
    • Thanks for the feedback 06412.  I think HSA's actually work more like 401K's than brokerage accounts.  But there's seem to be 2 problems. Quicken only allows one 401K per paycheck (I guess you can split your paycheck into 2 but this is starting to get to be a hassle), and there's no option for creating a cash account linked to a 401K (though you could probably transfer money manually to an account created for that purpose).   At least Quicken has the flexibilty so you can engineer solutions!   

       BTW I'm using Q2013; it doesn't support HSA's.   I'm hoping this will suffice as a workaround until Q14.  More and more employers are turning to HSA's (this year where I work we have an the option, next year we all get HSA's) so hoping full Q support isn't that far off.
    • I truly think your brokerage account tagged as tax-deferred w/link to cash account is the best work-around at this point.  I think what makes the HSA more akin to the 401(k)/403(b), and/or IRA, than a plain brokerage account is its IRS tax-deferred status (which a brokerage account can be tagged as) with annual limits on tax-deferred deposits (have to manually track at this point)... or am I missing something else?

      My hope is the brokerage account tagged as tax-deferred w/link to cash account is going to be the easiest to "convert" when Quicken finally builds in HSAs.

      Guess I need to ask around at work about who uses Quicken--since my employer is rather large and using HSAs--to get more folks to request Quicken provide a clear path to tracking these (along with including the appropriate tax schedule).
    • I was thinking possibly 401K because employers can offer to match/partially match employee contributions to HSA's much like many do with their 401K plans.  And the paycheck function in Quicken provides for this.   If you do find anything more at work, could you post here?   I'd be really interested if we missed anything.
    • I have no idea what Intuit's plans are ... for HSA's or anything else.

      [But in my opinion, real-world HSA accounts are going to gradually (or, perhaps, not so gradually) disappear. If I'm right (or if Intuit believes as I do), that would decrease the likelihood that adding HSA capabilities to Quicken would happen.]

      If Intuit does decide to add additional capabilities for Quicken to handle HSA accounts, I think it would be a mistake if they approached it the same way they did for IRA accounts.

      A Quicken IRA account can only be a Quicken "investment" account ... but in the real world, IRA accounts do not have to be investment accounts; they can be "savings accounts", for example.

      I think trying to designate an IRA account type (or an HSA account type - HSA accounts in the real-world can also be "savings accounts") in Quicken would be a mistake. I think IRA and HSA should be account "characteristics", in the same general way that "tax-deferred" is an account characteristic. The tax-deferred account characteristic can be applied to any Quicken account type. Naturally an HSA account characteristic would not provide the same features as a "tax-deferred" account characteristic, or an IRA account characteristic ... though it would provide special treatment of tax status for the account.

      Another change to Quicken that could benefit some HSA account holders, without requiring any specific HSA treatment by Quicken, would be to allow an employer match on "other pre-tax deductions". In fact, adding that feature, without tying it to HSA accounts, could benefit certain retirement account holders as well. This feature might make sense even if HSA capability, per se, isn't offered.

      But this is just blue-skying at this point. Right now Intuit is focused on getting Q2013 up to snuff ... as they should be.
    • This is very helpful.  I was able to set up my HSA account and payroll deduction, but how do I handle payments that are made by my medical insurance carrier from my HSA?  Do I just manually enter a payment to the provider listed in my insurance statement?
    • Based on my current understanding I would do as you have suggested; manually enter the payment from your HSA linked checking account. .
    Quicken has no special provisions for HSA accounts.

    If you are going to download to the account, you have no choice about the account type. You must use the account type that the financial institution downloads.

    If you are not going to be downloading to the account, you can use pretty much any Quicken account type you like; though it sounds like a savings account should work.

    You can make just about every Quicken account type "tax-deferred" ... but no Quicken account type can be designated as "tax-free", though the Quicken account type distinction is largely meaningless. A tax-deferred account should work fine.

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