I am just starting to use QMEM and was wondering if anyone else was using it with an HSA style insurance plan. Are you tracking HSA reimbursements and if so how? It has occured to me to track them as FSA reimbursements in QMEM. One complication in my situation though is that I have a separate FSA account that can only be used for dental and vision expenses since I have the HSA account for medical expenses. Any advice or comments would be greatly appreciated. Thanks.
Re: Health savings account (HSA) with QMEM Jan 29, 2006 05:50 am
We've got an HSA, too, and haven't yet been able to figure out exactly how to do anything. One thing we noticed right away is that the field "co-pay" is misleading. And it gets more confused from there.
Re: Health savings account (HSA) with QMEM Jan 06, 2007 09:38 am
The $5,000 deductible is part of the HDHP (high deductible health plan) which is tracked when I set up my insurance provider information. However, my employer contributes money to my HSA account (which is held at a banking institution), which can be used for medical expenses that my HDHP does not cover. I can pay for expenses out of pocket and get reimbursed by the bank or have the bank make the required payment for me. Or I can choose to pay expenses out of pocket and leave my HSA funds there to grow. My question is...would I set up another Provider called HSA and enter the information there if I choose to have the HSA bank make the required payment (whether to me if I paid out of pocket or to the service provider)?? Confusing, I know..but I am new to this program (downloaded today) and didn't see much reference to HSA funds.
Re: Health savings account (HSA) with QMEM Jan 06, 2007 11:14 am
My
question is...would I set up another Provider
called HSA and enter the information there if
I choose to have the HSA bank make the required
payment (whether to me if I paid out of pocket or to
the service provider)??
Absolutely not. If you insist on treating the HSA payments differently, you might consider setting up an HSA Insurer. Providers issue bills and Insurers pay them.
However, the conceptual difficulty I have with this approach is that payments made by Insurers are paid with "someone else's" money while both out of pocket and HSA payments <and FSA for that matter> are paid with your money.
Not having an HSA myself, I'm not really sure <or in a position to research> if there are any other advantages or disadvantages to attempting to treat HSAs as insurers.
Confusing, I know..but I am
new to this program (downloaded today) and didn't see
much reference to HSA funds.
That's because they are not yet directly supported.
