1. A method for estimating health and remaining useful life of a hydraulic element of a machine, the method comprising: determining, at a processor of the machine, a charge time of a hydraulic accumulator coupled to the hydraulic element in which a current pressure of a hydraulic fluid in the hydraulic accumulator reaches an upper threshold pressure, the current pressure being measured by a hydraulic accumulator pressure sensor coupled to the processor and the hydraulic accumulator; determining, at the processor, a discharging flow rate of the hydraulic element based upon the determined charge time of the hydraulic accumulator; determining, at the processor, a health indicator of the hydraulic element based upon a difference between the determined discharging flow rate of the hydraulic element and a stored discharging flow rate of the hydraulic element when new; determining, at the processor, a remaining useful life of the hydraulic element based upon the health indicator of the hydraulic element; and controlling, at the processor, the hydraulic element based upon the remaining useful life of the hydraulic element.