You may have heard about the new Nationwide 529 Plan, but do you know what it is and how it works? You may be wondering what the biggest difference is between it and existing single-state plans. So read on to find out. A 529 plan is an investment vehicle that can provide you with tax-free money. which you can use to pay for your education. Many people choose to invest in one of these schemes as they believe that the tax benefits outweigh any other benefits.