Draft Bill in the United States Intends to Make Cord Blood Treatment More Affordable

A new draft legislation called the Family Cord Blood Banking Act seeks to allow families to use their flexible spending account (FSA), health savings account (HSA), health reimbursement arrangements (HRA) or the medical expenses tax deduction to fund cord blood banking or treatment in the United States. According to the bill’s author Wally Herger, the legislation is only ‘common sense’, as it makes the potentially life-saving treatment that cord blood provide more affordable to parents from across the country.

As it stands, tax laws in the United States put several restrictions on the ways in which parents can use their tax-free dollars and their medical expenses tax deductions. Currently, cord blood banking and cord blood stem cell treatment is not considered a medical expense, and the new law seeks to change this. Many believe that the laws restricting the use of medical expense deductions are unfair and antiquated.

The Family Cord Blood Banking Act has received a great deal of support from medical authorities across the nation, and it is hoped that the bill will be passed shortly. The Coalition for Regenerative Stem Cell Medicine and the Brain Injury Association of America both stand firmly behind the bill and are optimistic that the Family Cord Blood Banking Act will be passed within the coming months.

Keywords: cord blood news, stem cell news, The Family Cord Blood Banking Act, cord blood banking, cord blood treatment.

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