Setting up my HSA that does NOT link to Quicken

ncadman2626 · January 2020

Hi all. I had to create a new Quicken file due to a corrupt file (it was over 15 years old)! I am at the point of entering my HSA account into my new file, where I have an auto deduction out of one of my checking accounts, then they sweep most of the money into an investment account (that also does not link to Quicken). Do I set up the HSA account as a savings account, then set up the investment account like a brokerage account and manually "send" the money swept from the "savings" into the investment per the statements?

bmciance · January 2020

I would set it up as an brokerage account. My HSA does link to Quicken but the fact that yours doesn't I don't think should matter. Just have the transfer from checking go to the investment account and then use the money to purchase the investments.

bmciance · January 2020

I would set it up as an brokerage account. My HSA does link to Quicken but the fact that yours doesn't I don't think should matter. Just have the transfer from checking go to the investment account and then use the money to purchase the investments.

ncadman2626 · January 2020

Thank you! I set up the place the auto debits from the bank as a savings account (which it technically is) and now setting up the brokerage account.

Jim_Harman · January 2020

One question is whether you will be using the HSA for current medical expenses only, for investments only, or for some combination of the 2.

I use mine for investments hand have it set up as a Roth IRA, which IMO is Quicken's closest approximation of how it is treated tax-wise.

You can find a detailed discussion of the pros and cons of using different account types here
https://community.quicken.com/discussion/comment/17215117#Comment_17215117

Setting up my HSA that does NOT link to Quicken

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