New Savings Accounts for Babies: Hospitals Now Sign Them Up Automatically

Starting this week, hospitals will automatically open savings accounts—called Trump Accounts—for every newborn, alongside standard paperwork. Six million babies already have one. The government puts $1,000 into each account for children born through 2028, and families can access the money starting July 2026. Because signup happens at the hospital without parents having to ask, nearly all families will participate.