Introduction
Cord Blood Banking has become a new way to have a last line of defense when someone suffers from a life-threatening disease.
It is the process of collecting stem cells present in the placenta and umbilical cord of the newborn baby and storing them for future use.
Now, you must be wondering why these stem cells are important. Well, stem cells are the cells that have the potential to morph themselves into different blood cells.
While this might look like some simple process, it is not. We are talking about stem cells that might even have the potential to treat cancer.
How Much Cord Blood Banking Cost?
Cord Blood Banking is the process of collecting and storing the umbilical cord. It can morph into any blood cell as it is reached in the stem cell. Hence, making it ideal for treating diseases that harm your blood and immune system.
Thanks to the life-saving ability of stem cells, many parents want to store the Umbilical cord in a bank. The process involves cutting the cord; the obstetrician will harvest the stem cell.
The cell will be stored in cold storage and will be used when individuals are suffering from any kind of life-threatening disease.
The process involves some advanced technologies. Hence, making the whole process expensive and out of reach of normal people.
Coming to the cost of Cord Blood Banking, there are two ways to store stem cells: Public and Private cord blood banking.
While Public Cord Blood Banking is free, Private Cord Blood Banking charges an annual fee for the services as an additional cord blood banking cost.
If you are using Private Cord Blood banking, you can expect to pay between $1300 to $2500 for the complete process of collecting, testing, and registering.
Once this is taken care of, you will also have to pay $100 to $200 for annual storage and maintenance fees.
Cord Blood Banking: FAQs
We understand that you have any questions regarding Cord Blood Banking. After all, no matter how beneficial the practice is, it is certain that it is not for everyone.
Cord Blood Banking services are expensive, and hence, not everyone can avail of the services. So, if you are thinking of availing the services, ensure that you have all the answers.
Here are the most common questions asked by individuals about Cord Blood Banking.
Q1. Is Cord Blood Banking Tax Deductible?
Well, it is tax-deductible!
However, there is a particular condition you need to meet.
For instance, if your baby or any family member is suffering from an FDA-recognized medical condition, and experts believe that it can be immediately treated with Baby cord blood stem cell, the cost of processing, collecting, and banking can be tax-deductible.
To better understand how this works, contact your tax advisor!
Q2. Does Insurance Cover Cord Blood Banking?
Yes, Cord blood Banking is covered by your insurance.
However, for that to happen, you need to ensure that it is a part of proven treatment. If you are suffering from a medical condition that can be treated with the baby cord stem cells, the insurance will cover the treatment.
Q3. Is Cord Blood Banking Worth The Money?
This is one of the most asked questions for families who want to store the baby’s umbilical cord for the future. Many families store the cord blood and cord tissues, knowing that there is something that can help them with immediate life-giving treatment through the Umbilical cord.
With more than 80 diseases and medical conditions currently treated by cord stem cells, experts believe that keeping the cord safe can save thousands of dollars in the future in some serious medical treatment.
Did You Get Your Answer!
Cord Blood Banking may not be a new concept, but because of how expensive it is, only a few people are aware of it. It is believed that the newborn baby’s umbilical cord is full of nutrition and has enhanced healing properties.
Some experts also believe that it has the potential to cure cancer to a certain extent. This potential is enough for people to store it for future use.
This article has discussed Cord Blood Banking and has also tried to answer some of the most asked questions.
We hope that you got all your answers. If not, you can drop your queries in the comment section.
