Is umbilical cord blood storage an eligible expense?

Collection and storage of umbilical cord blood as a precaution to treat a disease or condition that might possibly develop in the future, in case it is needed, is not considered medical care, and therefore is not a Health FSA or HSA eligible expense. But collection and storage of cord blood might qualify if there is an existing or imminently probable disease that the umbilical cord blood is intended to treat. For example, the cost of storing cord blood where a newborn has a birth defect and where the cord blood would be needed in the near future, or in advance of a scheduled surgery for use in a possible transfusion, might qualify. A letter of medical necessity from a doctor recommending short-term storage of the cord blood for use in treating a specific medical condition would be required. Before making an election based on this expense, please contact us to ensure the eligibility of your particular situation.