What are my options for banking my babys cord blood?
Currently, families have two options — public and private cord-blood banking. In public cord-blood banking, the baby’s cord blood is donated to a cord-blood bank and stored for use by anyone who may need it for a transplant. It may also be used for medical research. When parents donate their baby’s cord blood, they sign away all rights to it and the cord-blood bank owns the blood. Donating cord blood is free; the public cord-blood banks pay for the collection and storage of the blood. In private cord-blood banking, parents pay to have their baby’s cord blood banked for his or her own use in the future or for use by a family member (like a parent or sibling). The family “owns” the cord blood and can make all decisions about how it is used. The cost of private banking varies depending on the bank, but generally ranges from $1,000 to $2,000 for the initial collection of the blood, followed by annual storage fees of around $100 a year.
