Statements
Investments
Taxes
Misc
Misc
100
What is the paper statement fee?
$1.25
100
What is the minimum spending account balance required to invest (generally)?
$1,000
100
What is the tax deadline?
April 15th
100
What close reason shows when an account is closed for CIP?
CP or compliance
100
What reason code shows when an account is closed for Escheatment?
ES
200
What are the 2 possible timeframes for accounts statements?
-monthly -quarterly
200
What is the name of the vendor who provides our investment platform?
Save Daily
200
What information is reported on the 5498SA?
Contributions
200
Why was an account with code AR closed?
AH Request
200
What does reason code NO mean?
Never opened
300
In regards to statements, what is the $5 fee for?
Statement reprint
300
If my investment account has $200 and my spending account has $600, how much more does my account need to invest again?
$400
300
When must the Trustee send the initial tax forms by?
January 31st
300
What 2 things will happen if an AH ignores CIP notices for their HSA account with a balance?
-The account will be closed -A check for the balance will be mailed to the address on record
300
If an AH is asked to return funds for OD, how must the funds be sent?
Cashier's check or Money Order
400
Name three examples of "statement generating account activity."
Credits (contributions) Debits (use of debit card or check) Investment or redemption activity.
400
Are there any fees associated with investing, and if so, when is it deducted?
There is a $2.90 fee which is deducted on the 5th of each month.
400
How often are amended 1099SA forms sent?
Monthly starting in March.
400
When BenefitWallet received an Active enrollment update for an account closed by AR or TR, what will be mailed to the accountholder?
A mini welcome kit advising them to re-open their previous account by completing the gold Master Signature Card.
400
If an accountholder dies and their spouse is listed as the beneficiary of the HSA what options does he/she have to receive the account funds?
-HSA ownership is transferred to spouse and may continue to be used tax-free for qualified medical expenses. -They can request to have the account closed and the funds disbursed to them. ($25.00 check disbursement fee will be applied and 1099-SA issued.)
500
What form of statement will an AH who completed the signature process through Advantage Direct receive?
Electronic statement. They agree to electronic statements during the signature process.
500
Is there a fee to BUY or SELL ownership within the investment funds?
No. They are "no-load" funds meaning there are no transaction fees, just the base $2.90 fee for use of the Investment Platform.
500
Can we request an amended 5498SA form be sent before May 31st if the AH has a justifiable reason?
NO!
500
Tom has a $500 balance in his HSA, and requests we close the account and disburse a check to him. What will the value of Tom's check be?
$475. There is a $25 check disbursement fee which is deducted from the check balance.
500
What is the capital of Kansas?
Topeka
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