Add an HSA Investment account type (edited)

MDG39518
MDG39518 Member
edited July 2022 in Feature Requests
I would like to see HSA as choice under Investments. They aren't really any of the choices and I could view HSA account together.
74 votes

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Comments

  • WEH38618
    WEH38618 Member
    I have the same request
  • mverbree
    mverbree Member ✭✭✭
    Agreed, so it shows separately under investments.
  • FutureEye
    FutureEye Member ✭✭✭✭

    HSA account will have a savings account and an invest account. Both we need to have tagging while we add them.

    Right now I am adding under other investment account and savings account.

  • I have the same request (minor issue for me). We choose to dump money into the HSA and let it grow tax-free for tax-free withdrawal a long ways down the road. Therefore, we consider both accounts to be "investments". Thanks.

  • Another request for HSA as an option

  • +1. Would be nice to have

  • Yes, being able to add would be great. Don't know why it's not already here, lot's of people have HSA/FSA accounts

  • agirault
    agirault Member
    edited February 8

    It's just about a label, right? Nothing special about how it's processed/displayed otherwise? Feeling like the request could extend to just "custom label" if that's indeed the case.

    For example, I also have an ORP and 457B. Would be nice to just add labels for these as custom categories under "investment", but really just a nice to have.

  • No, not necessarily. Some HSAs are like Savings Accounts. Others support directed investments. Both are treated the same in terms of taxation. A discrete category for each would be ideal.

  • usercat
    usercat Member

    I have a Health Savings Account, which I currently track as "Other Investments". It would be nice if I could track this as the account type it actually is.

  • Boylivo
    Boylivo Member

    +1 Would be nice to have

  • +1 for the HSA account type

  • SRC54
    SRC54 Member ✭✭✭✭

    I don't have any experience with HSA accounts, but I have found the thread interesting and it seems there is a need for them, and gave it my upvote as well. I am going to look into these accounts to learn more about them!

    Steve
    Quicken Simplifi (Safari & iOS) Since 2021
    Quicken Classic (MacOS) Since 2009
    Microsoft Money (Windows) 1991-2009
    Dollars & Cents (DOS) 1987-1991

  • Wedo778
    Wedo778 Member ✭✭✭✭

    TL;DR its a companion to high deductible health insurance plans. Low deductible plans have a different kinds of savings account attached that has to be spent within that calendar year. HSA's you can own your entire life, spend whenever you have medical expenses, and invest in the meantime. Tax-deductible income, tax-free earnings as long as it is spent on medical expenses.

  • alkaboy
    alkaboy Member ✭✭✭

    This other feature request should also cover it:

    https://community.simplifimoney.com/discussion/8056/ability-to-create-custom-account-types-edited

  • SRC54
    SRC54 Member ✭✭✭✭

    @Wedo778 Thanks for the explanation. Sounds like a good thing for sure for those with high deductible plans!

    Steve
    Quicken Simplifi (Safari & iOS) Since 2021
    Quicken Classic (MacOS) Since 2009
    Microsoft Money (Windows) 1991-2009
    Dollars & Cents (DOS) 1987-1991