Making decisions and taking responsibility is something you need to get accustomed to as soon as you decide to become parents. In recent years, there has been an addition to the long list of choices you need to make for your baby.

The question is: Whether you should or should not bank the stem cells of your child at the time of delivery. And if yes, how it will affect your finances?

Stem cell banking is seen as biological insurance that can help your child in case of future medical emergencies. However, the cost of banking stem cells is a huge investment if you decide to choose a private bank.

Hence, you need to account for these Cord Blood Banking Prices both at the time of delivery and as an addition to your monthly expenses. Let us discuss the cost of banking the stem cell of your child in detail.

What is the cost of saving your child’s cord blood with a private bank?

When you decide to choose a private cord blood bank for your child’s stem cells, the bank will take care of everything including collection, processing, and cryogenically preserving the stem cells. Also, you can be assured that the stem cells of your child will be available for transfusion as and when needed by your family.

The cost of banking your child’s stem cells is a big investment. You need to pay an upfront cost at the time of registration, followed by annual fees.

The upfront cost also called the registration fee varies from $1300 to $2300. It covers the cost of collecting, testing, and registering with the bank.

Apart from this, you need to pay annual fees for storing your stem cells with the stem cell bank. The charges vary from $95 to $130.

What is the cost of saving your child’s cord blood with a public cord blood bank?

If you chose a public cord blood bank for your child’s cord blood, you do not have to pay anything to the bank for collection, processing, testing, or storing the blood cells. The donations to public cord blood banks are collected free of cost.

The public bank will arrange for the collection of cord blood post-delivery. Some banks also accept mail-in donations. However, with public banks, there is no guarantee that you will get your stem cells back in the future if your child needs them.

Why are private cord blood banks so expensive?

Storing the stem cells of your baby is a costly process in itself. The banks are mandatorily required by law to test the blood of the mother for infectious diseases.

Also, the blood needs to be processed to extract stem cells from cord blood. The blood is then tested for CD34 marker and the number of nucleated cells. The sample is also examined to rule out the possibility of bacteria or fungal growth. After that, the cells are frozen with a cryoprotectant.

This extensive process costs hundreds of dollars at its various stages. Also, the private banks have to add a percentage of profit to remain viable.

The process is similar for public banks and is equally expensive. However, you do not have to pay any charges to the public cord blood bank.

Is there any financial assistance or insurance cover for the cost of banking your stem cells?

Usually, insurance companies do not reimburse for any cost associated with banking your child’s stem cells.

However, if you have another kid suffering from a disease where stem cell transfusion can be helpful, you can get some financial assistance from the private cord blood bank.

It depends on the bank’s policy, and you need to have a prior discussion with the bank regarding their schemes.

When it comes to your child’s stem cell, you have three options: a private stem cell bank, a public stem cell bank, or not to store your child’s stem cells. If you do not preserve the cord blood with a bank, it will be disposed of as medical waste.

Hence, we strongly recommend getting your child’s stem cell stored with either a private bank for your family or with a public bank as a gift of life for someone else.