Every Voice Counts: Support the Family Cord Blood Banking Act!

PublicAffairs — Thu, 04 Jun 2009 22:15:00 GMT

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!

Empowering Parents to Make Decisions about Their Family’s Health

PublicAffairs — Fri, 27 Mar 2009 19:08:00 GMT

Did you know that you can use tax-advantaged dollars through a flexible spending account to pay for over-the-counter cough syrup - but not for cord blood banking services?

Hopefully this will soon change, thanks to the Family Cord Blood Banking Act, which was introduced in Congress on Wednesday, March 25th by U.S. Reps. Ron Kind, Wally Herger, Artur Davis, Bill Pascrell Jr. and Mike Thompson. The legislation would amend the current tax laws to allow individuals and couples to use tax-advantaged dollars to pay for umbilical cord blood banking services through flexible spending accounts (FSAs), health savings accounts (HSAs), health reimbursement arrangements (HRAs) or the medical expenses tax deduction.

The bill has our strong support because it has important implications for the way families pay for cord blood banking services, and for research involving cord blood stem cells:

• The cost of cord blood banking can be a challenge for families on fixed incomes. By categorizing it as a qualified medical expense, the cost of cord blood banking could be decreased by as much as 30 percent, depending on a family’s tax bracket. Lowering the cost of cord blood banking empowers parents to make decisions about their family’s health based on the life-saving potential of these cells, not necessarily on cost.

• Regenerative medicine research and clinical trials involving cord blood require children to have access to their own stem cells. By making it easier for families to bank their cord blood, the bill could accelerate the time table for new research involving cord blood stem cells.

If you’d like to help, contact your Representative of Congress and encourage them to support the Family Cord Blood Banking Act! For information on how to contact your Congressperson, visit the U.S. House of Representatives “Write Your Representative” site or call 202-224-3121.

CBR press release in support of the Family Cord Blood Banking Act

Rep. Kind’s official statement on the Family Cord Blood Banking Act

The Stem Cell Source : Family Cord Blood Banking Act

Every Voice Counts: Support the Family Cord Blood Banking Act!

Empowering Parents to Make Decisions about Their Family’s Health