Proposed bill allowing use of HSA $ for cord blood banking

Thanks to the committed efforts of CBR clients like you, more than 35 members of Congress have agreed to co-sponsor the Family Cord Blood Banking Act (HR 1614), legislation that would lower the cost of saving cord blood stem cells.

This important bill seeks to change IRS guidelines and allow families to use tax-free dollars to pay for both the upfront cord blood processing and annual banking fees through flexible spending accounts (FSAs), health savings accounts (HSAs), health reimbursement arrangements (HRAs), or medical expenses tax deductions.

According to primary co-sponsors, Representatives Ron Kind (D-WI) and Wally Herger (R-CA):

"As medical technology moves increasingly toward personalized cellular therapies,
families that choose to bank their child's umbilical cord blood are making an investment
in their child's healthcare that, in our view, clearly falls within the definition
of prevention of disease."

The experimental use of a child's own cord blood for personalized therapies is charting new territory thanks in part to CBR clients like Sparrow Morris, who was infused with her own cord blood after a near-drowning caused damage to her brain. See her compelling story here. Based on anecdotal cases like Sparrow's, CBR is leading the way in working with researchers to evaluate new uses of cord blood.

Support within Congress is growing for the Family Cord Blood Banking Act, so if you haven't already, please take five minutes to ask your representative to actively support HR 1614 by becoming a co-sponsor. The simple directions are here.

Thank you for your support.

Sincerely,

CBR
cordblood.com