A few months ago we wrote about the Family Cord Blood Banking Act (H.R. 1718), a new federal bill that would allow parents to use pre-tax dollars to pay for cord blood stem cells. Now we’re asking for your help in making sure the bill becomes law.
Under current IRS regulations, you can use tax-free dollars to pay for everyday medical expenses like over-the-counter cough syrup or band aids, but not the cost of preserving your newborn’s stem cells. Enabling families to use tax-free dollars to pay for cord blood banking through flexible spending accounts (FSAs), health savings accounts (HSAs), or health reimbursement arrangements (HRAs) can reduce the cost of cord blood banking – a significant benefit for many families who are struggling due to current economic conditions.
The Family Cord Blood Banking Act has solid bi-partisan support, but more co-sponsors are needed to accelerate the process and help ensure that the bill becomes law. You can support this effort by asking your Representative to become a co-sponsor of H.R. 1718 in three easy steps:
1. Know what the bill says: Read the content of H.R. 1718
2. Draft an e-mail: It’s important to use your own words, but you can use this sample template to get started. If you’ve banked your child’s cord blood, be sure to include the reasons why you chose to do so.
3. Contact your U.S. Representative: Visit the U.S. House of Representatives “Write Your Representative” web site.
The Time is Now!
Because Congress is actively discussing Healthcare Reform issues now, your e-mails will have the most impact in the next three weeks (before the July 4th Holiday). And, because every voice counts, encourage your friends and family to write their U.S. Representatives, too.
Thanks for supporting this important legislation to make cord blood banking more affordable for all American families!