Does QEM keep track of insurance premiums Mar 18, 2009 06:17 am
This post is about: Quicken Medical Expense Manager V2 2007
Hi there!
You can use Quicken Medical Expense Manager to track your insurance premiums by creating a provider to represent your insurance company.
Create a Provider for the Insurance Company
Create a new provider and set the provider name to something like CIGNA - Insurance. You only need to do this once for each insurance company.
Enter Your Insurance Premiums as Expenses
Enter a new expense for each insurance premium:
1. Select that Insurer in the Provider field.
2. Create a new Service called, Insurance Premium.
3. Enter the amount of the premium in the Amount Billed column.
4. Enter the amount of the premium that you paid in the My Payments & Copays section.
How to Run a Report:
1. Click on Reports > Cost Calculator > Services.
2. Click on Clear All next to the Services list, and then select Insurance Premium.
3. If you are tracking premiums for more than one insurer and want to see separate totals in the report, you will have to filter for one insurer at a time by clicking Clear All for the Provider list and then selecting the desired Insurer.
NOTE: Be aware that this method of tracking your insurance premiums mixes the cost of your insurance premiums with your other medical expenses. In order to get accurate totals for just your medical expenses in the Cost Calculator report, you will have to de-select the insurers in the Provider field and then click on Display Report to generate an accurate report.
If you are setting up tracking dental insurance premiums in Quicken Medical Expense Manager the setup is the same.