HSA (Health Savings Accounts) that can be downloaded into Quicken?

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Hi. I have an HSA called MyHSA with Alliance Benefit Group. I am pretty pleased with it because it (a) allows me to invest my money into a pretty wide selection of mutual funds and (b) has a debit card for medical expenses. The downside is (a) they charge $4.50/month for the privilege of having my money and (b) I haven't figured out any way to download the transactions into Quicken.

So, my question is does anyone have an HSA that allows them to (a) download their transactions into Quicken and (b) allow them to invest into mutual funds? If you have other ideas on how to get the most out of an HSA or using Quicken to manage an HSA, please include it here.

Note that I would really appreciate Quicken to incorporate the ability to manage an HSA differently than just setting it up as an IRA, 401(k) etc. This seems to be a glaring missing necessary functionin Quicken.
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Carsokk

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Posted 5 months ago

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Quicken Dave, Official Rep

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Hi Carsokk,

I'm sorry for any confusion this may have caused. To help us provide the most appropriate answer, please let us know what Quicken product (QWin or QMac), what version (2015, 2016, etc.) and what release you have installed. Also, let us know whether you using the US version of Quicken or Quicken Canada. 

Thanks,
Dave
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Carsokk

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Quicken Rental Property Manager 2017 Version 3 Build 26.1.3.4 (just upgraded with Black Friday Special). Windows 10. US Version.
(Edited)
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Tom Young, SuperUser

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My wife and I have our HSA's at HSA Bank.  The monthly fee - and it seems that's a common charge from financial institutions that offer HSA's - is waived if you maintain a minimum amount, which I think is $5,000 cash in the account.  They have a relationship with TDAmeritrade that allows the purchase of any security that's publicly traded.

HSA Bank doesn't provide for downloads into Quicken, which is not an issue for us as we've never used the accounts for medical bills and so the accounting amounts to one month end interest entry, but TDAmeritrade, where the bulk of our money is at, does.
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NotACPA, SuperUser

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My fiancee has an employer-sponsored HSA with HealthEquity.com.  They provide download into Q (via Express Web Connect and Web Connect), and there's no service charge if we get her monthly statement electronically.  There's no monthly minimum balance either.

We use the account extensively for medical expenses, and not for investment purposes.  It pays interest monthly.
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NotACPA, SuperUser

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In Q, it's set up to download via Express Web Connect using One Step Update. 
The account is set up, in Q, as a Savings account.

If all that you're seeing is QIF, then you're initiating the download from HE's website ... which isn't necessary.
(Edited)
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Hector Curiel

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That did the trick...thanks so much!
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Adam Cuppett

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Hi NotACPA,

I used to be able to download HealthEquity transaction directly into Quicken with Express Web Connect using One Step Update, but now I am getting an error that says:

"Quicken cannot connect to your accounts as they are set up at HealthEquity. You need to contact HealthEquity to correct the issue. (Tell them you received message CC-592)"

I called HealthEquity and they had no idea what is going on.

Anything thoughts?

Thanks!
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NotACPA, SuperUser

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See this re: CC-592:   https://www.quicken.com/support/error-when-using-online-services-cc-592

I downloaded from her HE account just now, without problem.
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Adam Cuppett

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Thanks, NotACPA. This is so strange that it works for you and keeps giving me the same error. I had tried the instructions on your link above and still run into the same problems. I'll try the Quicken CS route again. They weren't helpful last time. :)
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John in NC, SuperUser

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I have a HSA, and I don't have online access to it. No big deal for me, though as all I have are contributions (which get entered from split paycheck). I simply enter the interest monthly when I reconcile.

I would look at the account fee structure. There may be some plans that have a minimum balance fee, but what I have heard more is that you have to pay a fee if you haven't met a mimimum balance and are investing the money. If you simply have a cash balance (earning basic interest) and don't own any securities, those fees might not apply.

If this is the case, I suggest doing your homework regarding when you start buying securities in a HSA account. The typically higher returns of a MF might look attractive compared to basic savings interest. But if you have to pay monthly fees, acquisition fees, and also the related MF fees, things might not be so rosy. 
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Kristin Moore

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HSAs through Optum are downloadable.
I just tried setting up an account in Quicken 2014 for my Optum HSA Account.  It says my login and password are unknown.  I selected "Checking" for account creating since HSA doesn't exist.  I don't park any of my money in the investment side right now, just starting my HSA last month.  How did you connect your Optum HSA to Quicken?
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Stephen Grenier

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I would like to request to Quicken that you please add Bank Of America's HSA accounts to be added to the available accounts to be downloaded.  Bank Of America just updated their URL to myhealth.bankofamerica.com 
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splasher, SuperUser

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It is the financial institution that decides which aspects Quicken, not Quicken.  You need to make your desires known to BofA.