HI SB951

Establishes a universal children's savings account pilot project within the Department of Human Services for medicaid-eligible children enrolled in Hawaii's QUEST program born between July 1, 2011, and June 30, 2012, up to age five.

Department shall apply to the U.S. Centers for Medicare and Medicaid Services to launch a health services initiative under the children's health insurance program and make contributions to eligible children's accounts following early periodic screening, diagnosis, and treatment program visits.

Eligible children cannot access funds in their savings accounts until reaching 18 years of age, with account funds restricted to health-related purposes unless additional non-health funding sources are deposited in excess of health-related deposits.

Department shall develop public-private partnerships to increase account contributions and promote education to eligible children and families regarding annual health visits and the importance of saving.

Department must submit a report to the legislature by the 2012 regular session detailing implementation status, number of accounts opened, costs, staff hired, partnerships established, and any challenges encountered; pilot project repeals on December 31, 2030.