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If you’re currently pregnant or planning for pregnancy, cord blood banking (saving the blood and tissue from the fetal umbilical cord to preserve potentially healing stem cells) might not be the number one thing on your radar, but it’s an important health decision to make for your family.
The preservation of stem cells can be a worthy investment, particularly if you have a history of certain health conditions in your family (stem cells have been used to treat more than 80 health conditions).
There are some misconceptions about cord blood banking, including that the pricing is inaccessible. Yes, there is an array of new parent expenses to pay for, including diapers, formula, car seats, and more, but there are also multiple payment plans, discounts, and referral deals that can support you in affording cord blood banking.
Here are some of our best tips on financing cord blood banking, according to experts from Cord Blood Registry.
What are some benefits in investing in private cord blood banking?
You have two options when it comes to cord blood banking: public and private. Public cord blood banks make donated blood and tissue available to anyone who is a match and needs it for a transplant or other medical procedure, explains Michelle McDougle, MS, CGS, Senior Manager of Stem Cell Clinical Operations at CBR. Private cord blood banks operate by collecting and storing cord blood specifically for your family and tends to be a quicker retrieval process, since it’s already a genetic match for your child and likely a match for many family members, adds McDougle.
Saving your baby’s cord blood can be a solid option to have in case of any future medical emergency, but it can be especially relevant for people who have a known family history of certain genetic conditions that stem cell therapy could potentially treat. “If a family has a history of conditions treatable with stem cells, such as leukemia, lymphoma, or certain genetic disorders, the chances of needing a transplant increase,” says McDougle. “Having a private cord blood bank can provide a potential treatment option.” It’s just another tool for increasing your peace of mind in an uncertain situation.
How much does cord blood banking cost, in general?
Cord blood banking’s cost varies based on how long you decide to store the cord blood and tissue and how often you make payments. Many people choose the annual storage option, which involves $1,795 in initial fees, and $400 as a storage fee every year. You also have the option of paying upfront for either 18 years at $7,385 with no annual fees, or for a lifetime of storage at $11,385 with no other fees.
According to McDougle, CBR has payment plans that can work for any family’s budget if you choose not to pay annually or pay in full for cord banking upfront. Those start at $52 per month for the initial fees, and then $200 as an annual cord blood storage fee. You can choose a sliding scale plan, spreading your payments out just one time, for six months, for a full year, or for four years.
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What are other savings options for cord blood banking?
Believe it or not, when you put together your baby registry, you can add cord blood banking to it. Friends and family can chip in for your initial CBR fees and storage fees once you’re enrolled, McDougle explains. You can create a registry online and pass along the link to loved ones.
And if you’re part of a family, friend group, or parents’ group with lots of newborns or babies on the way, you can join a rewards program called the CBR Parent Circle Rewards™ program to help each other save on cord blood storage. If you join and pass along your referral code, your referred friend or family member can save up to $200 on annual storage for cord blood and tissue storage, or $100 if they choose to just bank cord blood or tissue. In return, you receive one free year of cord blood storage, worth $200, once your loved ones store their baby’s cord blood or tissue — it really does take a village.
Mara Santilli is a journalist reporting on health and wellness and how social and political systems influence the well-being of certain groups, including but not limited to Black and brown communities, women, and the LGBTQ+ community. Her editorial work has appeared in publications such as Shape, Marie Claire, Cosmopolitan, Women’s Health, InStyle, Glamour, and more. Outside of reading and writing, she enjoys traveling (especially to Italy), singing, dancing, musical theatre, and playing guitar and piano.