Health Savings Accounts are a critical component of Americans’ savings and budgeting strategies and help them flexibly manage their financial, physical, and mental health.

Companies that offer their employees HSAs must ensure they are enabling their team members can easily take advantage of all the benefits HSAs have to offer. HR leaders, and the brokers and consultants who serve them, can do this by:

• Working with an HSA provider that has an easy-to-use platform with straightforward and flexible options for savings, spending, and investing.
• Offer year-round employee education about how to get the most out of their HSA and work with a provider who offers pre-made educational materials to save benefits administrators time.
• Ensure that your HSA provider offers responsive, knowledgeable customer service and member support, so that administrators and account holders can get the help they need quickly and effectively.
• Audit your HSA and benefits programs and survey employees about what they use, and what more they need to take advantage of their accounts.
• Offer a range of easy, low-fee investment options that enable account holders to take advantage of tax-free account growth and a stronger investment market, as well as building up their HSA balance in order to save for the long term.
• Bundle HSAs with other flexible pre- and post-tax benefits to ensure they are part of a holistic, competitive benefits package that supports the whole person, no matter what the phase of their life or career.

The year ahead remains uncertain, with economic, political, and cultural changes taking place at a rapid pace. Now more than ever, people need the financial safety net provided by accounts like HSAs to ensure that they can confidently plan for the future, whatever it may bring.