With open enrollment season in full swing (and National HSA Awareness Day being celebrated on October 15), many employers see this time as a great opportunity to help their employees understand the full potential of their health savings accounts (HSAs); however, your employees' financial needs differ considerably depending on the stage of work they're in. For those entering the workforce for the first time to those nearing retirement, these communications can and should be quite different.

For example, pre-retirees are more likely to be engaged in a conversation about how an HSA can be used to pay for prescription drugs, since more than half of adults age 65 and over and one-third of adults age 50 to 64 report taking four or more prescription drugs, according to KFF. Still, younger generations need to be informed of this benefit in a way that makes sense for them, for example, in regard to sports injuries; antibiotics; contraceptives; and treatments for anxiety, depression and COVID-19.