Message From the CEO
Mike Del Trecco,
President and CEO of VAHHS
Saving for college is important. I know that, as the parent of two recent high school graduates. Whether students decide to go to college or to pursue a trade, training beyond high school always helps prepare them for what’s ahead. That’s why I’m so happy that VAHHS can help our friends at VSAC promote the benefits of saving through VT529 savings accounts.
This year, and in years past, VSAC celebrates National 529 Day by awarding $100 deposits in tax-favored 529 accounts to all babies born in Vermont on 5/29. VAHHS mobilizes its contacts at Vermont hospitals to find the babies lucky enough to be born on this special day and VSAC helps them open VT529 accounts to house what, for many, will be their first contributions—the $100 deposits. It was so exciting to learn that one family who welcomed a baby on 5/29 had ALREADY opened a VT529 before their baby had even been born. You can read about them in this story, which also appears as a feature below.
We’ve talked at length in this newsletter about workforce issues, which plague not only health care, but many industries in our state and in our nation. One way to nurture our future workers is to be sure they have the funding available to support the training they need. A 529 account can help with not only college, but with the important certification or training programs in which many health care professionals get their training or begin longer educational journeys. Many of our hospitals have creative programs to support aspiring health care workers and, if they also take advantage of savings program like VT529 accounts, education and training can be accessible to all Vermonters, no matter their means.
While you may not have been lucky enough to have a baby born on National 529 Day, consider opening a VT529 account for your child now, which you can do for as little as $25. Early days as new parents can be so overwhelming, so I encourage grandparents, friends and others to take the initiative for them and open accounts on their behalf. Or you can contribute any amount to an existing account. Just a small amount today will grow to something far more meaningful over the years and the sooner you start, the better. I encourage everyone to use this tax-favored money to help the young ones in your life pay for school or training—or even to pay off loans.
Take it from this dad who is soon to have two kids in college—any amount helps.
Have a great week.