If you are expecting, you may have heard about saving the umbilical cord. What used to be simply discarded as medical waste is now a potentially life-saving resource worth preserving. Blood remains inside the umbilical cord after birth as it is no longer needed by either the mother or the baby. However, this blood is rich in stem cells, and that is what makes it the valuable resource that it is today. You can choose to donate this blood for public use and research at no cost to you at a public bank, or you can choose to preserve the umbilical cord blood at a private bank.
To preserve the cord blood for private use in the future, you can use one of several private storage facilities. These private facilities charge a fee for the collection, processing, and storage of the cord blood. However, one common question you may have when considering saving the umbilical cord blood is – how much does banking cord blood cost?
Cost of Cord Blood Banking
In general, there are two fees associated with cord blood banking – the initial fee and the annual storage fee. The initial fee includes the costs of enrollment, collection and storage for at least the first year. First year fees in the United States will typically be somewhere between $ 1700 and $ 2300. In most cases, these fees are NOT covered by your insurance (but it never hurts to ask!). The second fee is an annual storage fee. Currently, most storage facilities in the US charge approximately $ 125 per year.
There are some facilities that charge a bit more up front (over $ 2000) but include 20 years of storage in that instead of just one year. Most other companies will allow you to pay a higher upfront fee for a longer period of storage, but it is difficult to get the initial payment reduced by much. Although some will allow you to prepay during your pregnancy so as to not have to pay the amount all in one lump sum, but in general all initial fees must be paid well in advance of delivery in order to utilize the private storage services.
Several facilities offer "family discounts" and "referral fees" for referring your friends and family to the facility, but in general these benefits only go to offset future annual fees, or to lock in the current prices, not to lower the cost you will have to pay upfront.
Is it Worth It?
Of course all these fees come at the time when you are already paying out for doctors, ultrasounds, and the million dollars worth of baby gear that you are sure you will need to make it through the first few months. However, in the event that you actually need the cord blood, I am sure there is no price too high for a parent to be willing to pay. So as you carefully weigh your options, you may want to see if your budget can possibly work in the cord blood preservation fees, as you get only once chance to make this decision, and that is before your baby is born.
Source by Stefani Padilla