How to track medical expenses.
Svetoslav Trochev
sal_electronics at hotmail.com
Wed Dec 23 03:45:12 EST 2009
Hi Everybody,
This year I would like to use GnuCash to track all medical related
transactions instead of using a spread sheet. My goals are:
1. Track my account balances at each doctor. For example: Family MD,
Dentist, Lab, Specialist X
2. Track my Flexible Spending Account (FSA)
3. Track all payments from multiple insurance companies
4. Finally track all out of pocket cash payments.
I think I got most of the accounts set correctly:
Assets
Cash
FSA
Equity
Insurance #1
Insurance #2
Gains/Losses
Expenses
Medical Expenses
Liabilities
Dr. X
Dr. Y
So I planning to enter following transactions:
When I visit a doctor: credit "Expenses:Medical Expenses" from
"Liabilities:Dr. X"
When the insurance pays 80% I will credit "Liabilities:Dr. X" from
"Equity:Insurance"
When I receive and pay the bill from the Dr. X I will credit
"Liabilities:Dr. X" from "Assets:Cash"
After that I am sending reimbursement claim with my FSA provider. When I
receive the check from them I will credit "Assets:Cash" from "Assets:FSA"
Finally at the end of the year if any money are left in FSA account I
will lose them so I will transfer remaining balance from "Assets:FSA" to
"Equity:Gains/Losses".
Any ideas and advice would be appreciated.
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