How do you care for an ice fishing rod and reel?

There are several types of ice fishing rods and gear. One style uses a tip-up method that involves the fish taking the bait, pulling on line and tripping some sort of signaling device light a flag or electrical light. The other is a standard manual ice-fishing rod which is used by dropping a small jig or baited hook down and then cranked up off the bottom. This rod is used like a regular fishing rod.