Health Savings Account (HSA)

MT_Chiefs_Fan
MT_Chiefs_Fan Quicken Mac Subscription Member ✭✭
edited November 13 in Investments

I think Quicken needs to seriously consider adding Health Savings Account (HSA) functionality to Quicken. With so many people having HDHP health plans, HSAs are becoming much more common place. Having an effective method to manage those accounts in Quicken would be great. I would encourage you to create HSA options both in the of Savings/Checking as well as an option for Investments. Most HSA providers offer investments options and Fidelity is completely investment based. Hopefully others agree that this is needed for both Mac and Windows.

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  • MT_Chiefs_Fan
    MT_Chiefs_Fan Quicken Mac Subscription Member ✭✭

    Additionally, I think there should also be the ability to track FSA accounts as well.

  • jimbean2
    jimbean2 Quicken Mac Subscription Member ✭✭✭

    What is the purpose of having specialized HSA or FSA accounts? What do you want Quicken to provide that's different than, let's say, a brokerage or retirement type account? Is it merely a Grouping label?

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited July 4

    An additional complication is that there are multiple common configurations for HSAs.

    As mentioned above, Fidelity has an all in one investing and cash account.

    Other providers have what is essentially a bank account with a debit card that is linked to an investing account accessed separately in Quicken, with transfers as needed between the accounts. Sometimes you can download transactions from one account but not the other.

    [edit - this is for QWin, presumably the setup for Mac would be similar] When I had a 2-account HSA provider, the cash side was set up as a checking account with the Tax deferred option selected and the investing side was a brokerage account, again with the Tax Deferred option.

    QWin Premier subscription
  • JackJr
    JackJr Quicken Windows Subscription Member ✭✭
    edited August 23

    [Removed - Duplicate Post]

  • Eric Perrone
    Eric Perrone Quicken Mac Subscription Member ✭✭✭

    could keep scanned receipts.

  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    For what it is worth, here is the response for this idea in Quicken Windows (Declined, with 126 votes, in October 2023):

    https://community.quicken.com/discussion/7867322/implement-health-savings-accounts-hsa-6-merged-votes

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    http://www.quicknperlwiz.com/

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