One of the greatest advantages of a health savings account (HSA) may also be one of the least well-known. The triple-tax advantages of HSAs, as well as the fact that HSA balances roll over each year are great, but did you know that there is no expiration date to reimburse yourself for qualified medical expenses? This means you can “save now, and cash in later.”

Health savings accounts (HSAs) are one of the most effective options to save money for healthcare expenses and retirement, but many accountholders don’t take advantage of all the benefits. Some of your employees may already have good HSA habits, but understanding more about how to use them can help make a good HSA program a great one. Here are 7 tips to help employees win with their HSA:

Health savings accounts (HSAs) are one of the most tax-advantaged¹ accounts that the IRS recognizes. Other retirement accounts are taxed at some point — whether that’s when the funds go into the account or when the funds are taken out — but HSAs have triple-tax advantages (as long as the accountholder follows the rules set up by the IRS) that other programs just don’t have.

If your employees are like most other workers in the U.S., it is highly likely that they are not saving enough for retirement. In fact, studies show that among all generational groups, many people will need to work much longer than expected to make up for those shortfalls. Then there is the increasing cost of healthcare that can threaten your employees’ savings and keep them from reaching their financial goals.

How can employers help employees achieve their savings goals, both now and as they prepare for retirement? One answer may be to do more to provide the kinds of benefits — including HSAs and 401(k)s — that can help them save for healthcare and retirement. Here are three tips you can use as you approach your employees about saving for healthcare and retirement.

Note: This is the last of a 3-part series of blog posts. Previous blog posts in the series discussed contributing to an HSA and growing HSA funds.

In a report last year, the Centers for Medicare and Medicaid Services said “U.S. health care spending increased 4.3% to reach $3.3 trillion, or $10,348 per person in 2016.” The report broke the spending down further as follows: