Online Services for "Asset" accounts

Options
gcrew
gcrew Member ✭
edited December 2023 in Manage Accounts and Transactions

I have an HSA to which I contribute a pre-tax deductions through my paycheck. My HSA provider allows for Online Services, but you can't link an "Asset" type account to an Online Service and you can only assign pre-tax deductions to an "Asset" account.

Why can't "Asset" type accounts be connected to Online Services? Alternatively, could I assign a pre-tax deduction options of "Flex Spending" or "Dependent Care" to a different account type?

Right now I can either choose the right pre-tax option and manually synch my account or I can use the "Other Pre-Tax Deduction" and transfer to a Checking/Saving account which has Online Services connected. Why do either of these restrictions exist?

Tagged:
1
Up
1 votes

Reviewed · Last Updated

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Options

    Depending on the details of what's in the HSA - cash or investments - you could set up the HSA as a Savings or Investment Account. It seems that the programmers figured that the generic asset and liability Accounts would be used infrequently and not be connected to any real-world financial institutions.

Categories