If you’re someone who is expecting a baby, you may have seen ads and information that has to do with saving the umbilical cord blood but of course you might wonder about the cord blood banking cost and where this could fit into your financial plan. Of course there is no comparison to the joy that a newborn brings to your household but there are budget considerations that also need to be considered. Prenatal care by itself can be a big addition to the family budget, so of course child related costs are sure to be considered at this time in one’s life.
Even though you may be considering saving the cord blood and banking it should you need it for a medical emergency, you’re probably concerned about the cost of the collection of the actual cord blood. Of course you would probably take any precaution to guard against medical issues with your own child.
The advantages to storing your own cord blood in a private blood bank could mean the difference between life and death for a child should he or she need these vital blood cells. If you had to turn to a public blood bank, you risk not finding a match as the donation would be from a stranger that has no blood relation to the patient. You also do not know if there are any risks associated with an unknown donar’s blood.
The actual retrieval of the cord blood only carries a minimal cost. The blood is simply taken from the umbilical cord using a basic syringe within 15 minutes or so of of the birth. This process is completely pain free for both child and mom. The cord blood is carefully labeled before it is sent off to the storage facility that you have chosen. The pros of this procedure actually far outweigh in cons that you can think of.
Part of the costs of cord blood banking include the initial fee that you would pay if you should to go with a private cord blood bank. The typical storage costs are paid annually and up front. In general, you could expect this private banking fee to by around $1,000 for that first year. Once you pay that initial cost, many private facilities only charge around $100 each year and in some cases it can be even less than this.
Let’s break these costs down just a bit to consider what it is that you are really budgeting for when it comes to your child’s health and guarding against any potential medical emergencies. If we use the $100 per year as the example, this works out to just over $8.00 per month or only a mere $2.00 a week. This is really nothing when compared to the well-being of your child should an emergency warrant a blood transplant.
When you’re ready to start doing your research for a particular blood bank, you should turn to the American Association of Blood Banks as your main starting point. Look for the bank that are listed and accredited.
The cord blood banking cost of storage and collection isn’t really very much when you consider the potential value it offers should you need this for your own child.
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