January is the start to a new year and is also "Financial Wellness Month" — a refreshing beginning that provides an excellent opportunity to start the year off on the right financial foot. And that also rings true in the workplace. With many employees having new benefits kick in, and some employers offering new workplace savings and benefits solutions to their workforce, now presents a great time for employers to help their employees remain engaged throughout the year with the important benefits and solutions available to them.

The good news is your employees want to hear from you: According to recent research from Voya Financial, 65% of Americans find receiving more information from their employer outside of open enrollment to help them better understand their employee benefit options extremely important or important. While getting through open enrollment and helping your workforce choose the benefits you offer is critical, making sure they know how to use them is equally important, so here are a few things to keep in mind.

The capabilities of HSAs

Over the years, health savings accounts (HSAs) have grown in interest and popularity — so much so that there were $104 billion in HSA assets held among 35.5 million accounts at the end of 2022, according to industry data. However, many individuals may not fully realize what exactly HSAs can do for them, particularly in the future. This unawareness is prevalent as additional Voya data has found that while the general understanding that HSAs can be used to pay for health care expenses in retirement has increased noticeably over the past few years (from 43% in 2020 to 55% in 2023), only 3% of survey respondents were able to correctly identify all attributes of an HSA.