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Families living in poverty with young children are particularly vulnerable to poor health outcomes. This study used a randomized controlled trial to analyze the impact of Early Bird (EB), a novel health system-integrated program that provided financial incentives to low-income mothers for achieving healthy milestones. Participants randomized to the EB condition received contributions in a tax-advantaged children's savings account (CSA) for attending a maternal six-week postpartum check-up ( $25), a pediatric dental visit by age 12 months ($ 75), six well-check visits by age 15 months ( $75), two financial coaching sessions ($ 30), and enrolling in the EB program and opening a CSA ($250). We found that Early Bird increased the likelihood that mothers attended a financial coaching session. We found no evidence of an increase in the likelihood of completing any of the medical milestones. Future work should examine whether larger contributions to CSAs might incentivize mothers to achieve the medical milestones.

529 plans offer tax advantages, however they come with more complexity in account set-up, fewer investment options, potentially higher fees, and less flexibility than a taxable account. This research looks at whether the tax advantages provided by 529 plans are too good to pass up. The relative tax advantage of 529 plans also depends on the length of time the client has until college, whether the contributions will be gradual or in a lump sum, and the assumed rate of return on the investments. This analysis calculates a tax alpha on a state-by-state basis as a reference guide for planners who work across many states to help make an initial assessment of whether the 529 plan offers relatively large or small tax advantages versus a taxable account. This can allow a planner to quantify the relative tax benefit of a 529 plan versus a taxable account for college savings, depending on the home state of the client.

In November 2021, after more than a year of investigating the racial health disparities across its organization, Boston Medical Center launched the Health Equity Accelerator, a system-wide approach to holistically address the root causes of health inequities among people of different races and ethnicities and speed improvements in health outcomes. This article discusses lessons learned during the institution's process of discovery, shares examples of the work to dismantle a structural narrative that impedes health justice, and outlines interventions that can be applied to other healthcare systems across the United States.

While higher education costs continue to increase, so does the complexity surrounding funding and financing these costs for clients. The good news is that parents and students have access to many different savings vehicles, some of which are specifically designed to fund education-related goals and provide significant tax advantages, such as Coverdell Education Savings Accounts (CESAs) and Qualified Tuition Programs (529 College Savings Plans). Additionally, different financing options are provided by both the federal government and private lenders to students and their parents. According to a 2019 report from Sallie Mae and Ipsos, 66 percent of families relied on parent income and savings, 65 percent of families relied on student income and savings, 82 percent of families relied on grants and scholarships, 21 percent of families relied on parent borrowing, and 38 percent of families relied on student borrowing to help pay for higher education costs.

This study examines how study participants' financial knowledge and participation in a Child Development Account intervention affects 529 College Savings Plan account holding among caregivers of infants. The study uses data from the SEED for Oklahoma Kids (N = 2,651), a statewide randomized experiment using a probability sample of infants selected from birth records. Results of logit regression show that participants' financial knowledge is positively related to account holding in the treatment group but not in the control group. The interactive effects between financial knowledge and treatment status are statistically significant. This finding implies that the effect of financial knowledge on financial decisions related to college savings is moderated by institutional features, such as incentives, information and access. Results of this study support the propositions of financial capability and suggest that expanding financial capability requires both improved individual financial knowledge and supportive policy.

This study examines the impacts of Child Development Accounts (CDAs) on account holding, saving, and asset accumulation for children, using data from the SEED for Oklahoma Kids experiment (SEED OK). SEED OK, a policy test of universal and progressive CDAs, provides a 529 college savings plan account to every infant in the treatment group with automatic account opening and an initial deposit. SEED OK also encourages treatment participants to open their own 529 accounts with an account opening incentive and a savings match. Using a sample of infants randomly selected from birth records (N = 2,670) and randomly assigned to treatment and control groups, this study runs probit and ordinary least squares (OLS) regressions. Analyses show significant differences between treatment and control groups in all outcome measures in the targeted accounts. Nearly 100 percent of the treatment group accepted the automatically opened state-owned account. Compared to 1 percent of the control group, 16 percent of the treatment group hold a participant-owned account. On average, the treatment group has saved significantly larger amounts in participant-owned accounts, although a difference in savings amount is modest between the two groups ($47 vs. $13). A difference in total 529 assets of $1,040 is estimated between the treatment and control groups. These early findings from SEED OK suggest that CDAs have positive effects on savings and asset accumulation for children's future development. Further research is required to test long-term cost effectiveness of CDAs.

This paper examines a prospect scenario of adopting Child Development Accounts (CDAs) as a social welfare innovation in Jordan. CDAs are considered as an asset-building policy aimed at enhancing financial inclusion and socio-economic well-being. This paper discovers the feasibility of CDAs that have proven successful in several countries, as their potential in Middle Eastern countries, particularly in Jordan, remains unexplored. The application of CDAs in the social welfare system aims to support sustainable asset accumulation and improve the living standards of diverse segments in Jordan by integrating CDAs within the efforts made by Jordan to achieve financial inclusion, alleviate poverty, and supplement household income through asset development. There are opportunities to implement the program in Jordan, including expanding the scope of microfinance, public–private partnerships, and targeted programs for women, youth, and refugees. However, several challenges may hinder its application, including limited financial literacy, high unemployment rates, income inequality, regulatory obstacles, and difficulties in implementing social reforms. The paper contributes to the debate on social welfare policies adopted in developing countries by providing solutions based on global practices in CDA execution and has implications and recommendations for decision makers to achieve economic development. Future research in Middle East and North Africa (MENA) countries should target pilot projects and comparative studies to refine CDA strategies.

American families are leaving an estimated $237 billion on the table by not investing their college savings in 529 plans under normal market conditions. Under adverse market conditions, the missed opportunity is $33 billion. Under normal market conditions, the primary benefit for most families from using a 529 plan is not its tax advantages; it is the fact that it encourages investing instead of using a savings account. Middle- and upper-middle-class families stand to benefit the most from increased adoption of 529 plans (and other investing vehicles). The average family saving for college would see a benefit of $4,044 per child. The focus of this paper is on the use of 529s for college savings--their intended purpose before the 2017 Tax Cuts and Jobs Act broadened the allowable purposes of 529s to include K-12 education. The use of 529s to cover K-12 education is a newer development, with little data about its use for that purpose and is not covered here.