Cord Blood Bank - A Price To Pay

There are many factors you need to consider when choosing a cord blood bank. First you have to decide if you are donating your blood or storing it for your own use. If you are donating it then you can do so at a public cord blood bank, free of cost. You may have to pay the cost of collecting the cord blood and having it sent to the bank but not for storing it in the bank.

Preserving your cord blood in a private bank means you are storing it for your own future use if required. You will need to pay certain charges to the bank. Different banks have different charges, so you will have to decide what suits you best. Most private cord blood banks have an enrolment fee and a maintenance fee for storing your blood in their facility.

The Price

A private bank charges a fee for collecting, processing and storing your cord blood for your future use. Sometimes the collection and processing fees are included in the enrolment fee which could be around $500 - $1000. Along with this you would have to pay annual storage fees of around $100. This may sound expensive at first but the cost for processing and then freezing cord blood for many years would naturally be a bit high.

Cutting Costs

There are various ways that these banks try to help you manage the costs. They have different payment plans to suit your budget. You would have to check with the bank regarding the plans they have and any discounts they may be offering. You can do so in your late pregnancy period.

Some banks offer a discount if you prepay for storing your blood for a long period of time instead of annually. For instance you can pay the cord blood storage fees for 5 years at a time.

There are family discounts available too. If you bank more than one child's cord blood then you don't need to pay full charges for them. This is helpful in the case of multiple births or the birth of a sibling later.

At certain banks you can store the cord blood free of charge only if a sibling has, or you have, one of the diseases that can be successfully treated with cord blood transplant. If this option is not available at your bank then you can check with your medical insurance if they will cover such a cost. Some private insurance companies as well as state Medicaid programs cover such a cost if there is a sibling in need of a transplant.

There are a few banks which offer a service for people who have an immediate family member in need of a stem cell transplant. In case the family's insurance does not cover the costs, then the private bank will do so provided the family meets certain eligibility criteria.

Public banks may not charge any enrolment and storage fee but when you need a transplant then you need to pay around $15000 to use the blood. This is an extremely high figure but most insurance policies cover the cost of stem cell transplantation.

Once you compare cord blood banks and their costs, it will be easier for you to choose the cord blood bank that is most suitable for you. Check this Cord Blood Banking - FAQ for more.