When expectant parents are considering the pros and cons of cord blood banking, the cost of private banking is often a source of concern. With enrollment, collection, processing, and storage fees, it’s understandable to wonder, “Is cord blood banking worth it?”—especially at a time when the regular costs of having and taking care of a new baby are looming.
Cord blood banking can be thought of as “biological insurance” for your child and your family’s future health. Your child or a family member has a 1 in 200 chance of needing a stem cell transplant during their lifetime.12 Paying $123 to $150 a year for cord blood banking with LifebankUSA (in addition to a collection fee) is a lot less than the cost of other insurance policies we don’t hesitate to buy, such as life, health, property, or car insurance.
Consider your family history
The case for whether cord blood banking is worth it becomes even stronger if there's already a family history of one of the diseases currently treatable with cord blood, including leukemia, lymphomas, sickle cell anemia, and immune deficiency diseases, among others. With a family history of one of these diseases, your family's chances of needing a stem cell transplant at some point in the future are higher than the general population's.
Planning for more than one child?
You may find the idea of cord blood banking particularly reassuring if you have or plan to have more than one child. Your baby’s cord blood stem cells can be used for siblings and other family members. Your baby’s stem cells have a 25% chance of being a perfect genetic match and a 50% chance of being a partial genetic match for your baby’s brother or sister. So you’re not just banking for your baby’s benefit, but truly for your whole family.
Plan for the future
Like other insurance, cord blood banking provides security, in this case against a number of life-threatening diseases – and that can be considered priceless. By adding placental blood, placental tissue, and cord tissue to your cord blood collection, you’re increasing the odds of your family being able to take advantage of future medical advancements as they become available, including regenerative medicine.