If you’re pregnant, you’ve almost certainly seen seen advertisements for blood banks that specialize in banking the blood from babies’ umbilical cord. Cord blood banking has recently hit the national spotlight, because of the stem cells that are available in the placenta and umbilical cord. Those cells can be the difference between life and death in a few uncommon but frightening instances such as leukemia or sickle cell anemia.
While the benefits of storing your babies’ cord blood can be huge, there are a few things that every new parent should take into consideration when pondering this decision.
The proponents of cord blood banking believe that the stem cells in cord blood are needed to cure the child or any close relatives such as siblings or cousins of diseases that would otherwise require a bone marrow transplant to overcome. The blood will be a 100% match for the child, on average a 50% match for it’s siblings, and even has a good chance of matching a cousin’s blood.
On the downside, storing cord blood with a private bank (the only way to make sure it’s kept for your own family’s use and not given to a stranger) can be a very pricey endeavor. One popular blood bank in Miami, FL, charges $1800 to store your babies’ cord blood — plus $75 every month until your baby is 21 years old! Obviously, such a significant investment needs careful consideration.
If you do decide to make the decision, you need to research the specific facilities that are available to you. Ask each cord blood bank if they’re a member of the AABB – the American Association of Blood Banks. This is the best way to ensure you’re dealing with a legitimate blood bank that will be concerned with your specific situation.
After you’ve done your research, and you’ve narrowed it down to a few banks that feel right, check into each bank’s financial solvency. Any reputable bank will allow you to at least scan an overview of their financial statement. This is critical, because if the blood bank goes under while your child is still a baby, you’ve lost out on the investment you’ve made in your baby’s future.
If you find that the costs of the private banking of your babies’ cord blood are prohibitive, you can always donate to a public bank. Public blood banks tend to be safer in that they are less likely to go under, but riskier in that they will give your babies’ cord blood to anyone who needs it. Also, if you sign your permission over, public blood banks frequently give cord blood over to scientific organizations pursuing stem cell research.
As you can see, a variety of options await the expecting mother for the use of her child’s cord blood. However, the costs can add up, if you are ever in a position where you cannot pay the storage fees, then the blood may go to waste.
