True or False
Contributions into an HSA are tax-free.
True
Who qualifies as a dependent on your HSA account?
An individual who isn't claimed on someone else's federal tax return.
DAILY DOUBLE!
Name the 5 P's in order.
- Plan
- Prepare
- Provocative
- Position/Present
- Post
Who is responsible for maintaining the relationships and serve as the primary resource for CHRO's before, during, and upon completion of a sale?
The FWC.
What is the non-senior FWCs product goal before the end of fourth quarter?
- 1 HSA
- 1 INDI
- 1 FIS
Indi is a unique banking need for what type of worker?
- 1099 worker
- Contract worker
- Independent worker
If you leave an employer and don’t have health insurance, you'll lose the funds in your HSA account.
False
Name an HSA partner.
- William/Bill Ware
- Monica Malinowski
- Larry Murtaugh
Which stage of the 5 P's would be used in researching a company?
Plan & Prepare.
When entering opportunities in EDGE, what are the 5 probability percentage stages?
- 0%
- 30%
- 50%
- 70%
- 100%
DAILY DOUBLE!
What is the goal for submitted and activated codes each month?
Minimum of 2 codes.
What is the minimum revenue dollar amount awarded to RMs for a referral?
$12,000.00
There is a contract commitment for HSAs.
TRUE. Our standard employer Administrative Services Agreement is a one year agreement which automatically renews each year.
What is the HSA tiered pricing for an employer who has between 500-999 employees?
$1.50 monthly admin fee.(per account)
Name 3 important steps in the POST stage of the 5 P's.
- Email recap/Thank you
- Update EDGE
- Debrief with RM
- Setting expectations
- Calendar invites/onsite dates
- Preparing proposals
- Submitting referrals
DAILY DOUBLE!
Are FWCs responsible for having HSA pricing conversation? If so, how is the pricing handled?
Yes, FWCs are expected to have pricing conversations.
They should only provide standard tiered pricing based on the number of accounts on the spot. If specialized pricing is needed, they must connect with the HSA partners and MKT Managers.
What is the onsite goal for FWCs each month this quarter? (specific number)
- October: 10
- November: 13
- December: 15
What is the cost associated with FWAC for an existing WPB client?
No cost
The HSA is a triple-tax-deferred savings account in the U.S.
TRUE. In fact, it is the only triple-tax-deferred savings account in the U.S.
DAILY DOUBLE!
Name a tool that can demonstrate the benefits and features of an HSA product.
- Pitch Deck
- Learning Lounge
- HSA Demo
Name 2 research tools that are available to the FWC when preparing for a DM meeting?
- UCC
- D&B
- Cross Sell Benchmark
- Research Engine
- BrightScope
What is the email address used to send completed and signed documents for PNC Benefit Plus?
PNCHSASalesAssist@pnc.com
What are the DDA goals for a non-senior FSC for Nov. and Dec.?
- November: 12
- December: 15
Once a FWC identifies a FIS opportunity, what partner (be specific) should be contacted next?
IAM BDO - Institution Asset Management
DAILY DOUBLE!
The monthly administrative fee is waived if the average daily balance in the bank portion of the HSA is $2,000 or greater.
FALSE. The average daily balance of the HSA should be at least $5,000.
Name 3 out of the 5 features or tax benefits of an HSA.
- Contributions are pre-tax or tax-deductible
- Interest earned is tax-free
- Tax-free withdrawals may be made for qualified medical expenses
- Unused balances rollover from year to year
- You own the HSA and it is yours to keep even when you change jobs or health plans or retire
Name a benefit of asking a provocative question to a DM.
- To gain more insight/ideas
- Uncover pain points
- Self discovery for DM
What 2 documents are needed to get started on our PNC Benefit Plus program?
- PNC Benefit Plus Administrative Services Agreement
- PNC Benefit Plus Health Savings Account Program Design Guide
When are you expected to update EDGE?
Ex: Call reports, opportunities, campaigns, etc..
Immediately
Where can you access the latest OFW announcements?
Organizational Financial Wellness announcement board in SharePoint.
HSA's are available to anyone enrolled in a health plan.
FALSE, you must be enrolled in a high-deductible health plan.
What is the minimum dollar threshold to utilize the investment feature with your HSA?
$1,000 minimum.
What is the name of the probability stage when you're at 50%?
Proposal.
When discussing special pricing, when would you involve a Contact Product Manager?
When the number of HSA accounts is 1,000 or higher.
Which two OFW products below require submitting a referral?
- FIS
- Indi
- WorkPlace
- HSA
FIS & Indi
DAILY DOUBLE!
When adding an opportunity in EDGE, what field should you enter your Strategic Plan in?
Description field