Employer Contributions to HSA

Debra Tuggle Huser

My employer contributes funds each paycheck to my HSA. I would think this is similar to a 401k match, but I am unable to add this inflow into my paycheck. Any ideas how this should work?

goquy114

I cannot log into Quicken right now (an issue I'm waiting for a response), but you should be able to create an account (call it HSA) that is not linked to anything (i.e. manual entry). Then you should be able put in a Pre or Post tax contribution to it from your paycheck setup.

Debra Tuggle Huser

I have set up the account for MY contributions (which are deducted from my paycheck) I need an account for my EMPLOYERS contribution - not deducted from my paycheck, similar to the 401K match. I cannot see that Quicken allows for this.

goquy114

Under Tools -> Bill and Income Reminders, add an income reminder.
Enter your employer as the from entry and click Income Reminder and NEXT.
Enter the due date, frequency and amount and select the HSA account you created for your contributions. Where is says remind me in 3 days, click Change.
Select the Automatic entry option.

Jim_Harman

The Paycheck Wizard only supports one employer match, but you should be able to enter the match as a Deposit in the HSA account.

If that does not work for you, you could enter a split Deposit transaction in your checking account that has a positive amount for the employer match and a negative amount for the transfer to the HSA, with the Category set to the HSA account name in [brackets]. This will end up as a zero dollar transaction in your checking account.