Author Topic: Do you track your HSA with mint.com?  (Read 6497 times)

schimt

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Do you track your HSA with mint.com?
« on: February 24, 2015, 05:44:36 AM »
Last year i tracked my HSA account with mint.com, which is nice to see the balance easily and make sure there are no fraudulent charges against my account.

The issue is that this account automatically categorized as a cash account, which it really is not as liquid as my actual cash accounts, plus i'm hoping to treat it more as an investment/retirement account over the long run.

My company switched to a new bank for our HSA program this year and i'm debating if i should add it to my mint account or not because i like keeping my cash balance at a specific level and this throws off that picture. Or is there a way to mark an account as an investment in mint that i'm not aware of.

Thanks in advance for your feedback

aetherie

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Re: Do you track your HSA with mint.com?
« Reply #1 on: February 24, 2015, 09:45:54 AM »
I track my HSA with mint. As far as I know there's no way to recategorize it as an investment account (and a quick google confirms that if the bank is reporting the account as "savings" then mint can't change that). For me, at least, having it show up in mint along with everything else is worth the minor annoyance of it being in the wrong category.

Mike

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Re: Do you track your HSA with mint.com?
« Reply #2 on: February 24, 2015, 10:17:56 AM »
Here's how it works if you invest any HSA money:

Let's say you have a balance of $10,000 and invested $5,000 in the market.

Mint will now list your account as:
HSA-whatever-bank $5,000 (cash)
Fidelity/whatever the brokerage is $5000 (investment)

The bank side of your account will always be listed as a cash account as any other bank savings / checking account would be.  The part that is in the market will be listed separately in your investments category.

I'll also take this opportunity to say the banks are asshats because if it wasn't for their stupid minimum balance requirements/associated fees, I'd be investing all of my HSA money right now rather than a paltry 1/5 of it.  So before you choose to invest, read the account documents.  Odds are the parent bank requires a minimum balance of something ridiculous like $5000 to dodge a $5 "monthly account maintenance fee".