Are Umbilical Blood Banks "Taking Advantage" of Parents?
You could spend thousands of dollars ($1700-$2500) to collect plus the doctor's fee and your insurer won't cover the cost. Add that to the annual fee of $175-$200 that you know will go up, and you're talking real money without understanding the limited benefits.
Earlier this year, the American Academy of Pediatrics said parents should only bank if they have an older child with a condition that could benefit.
Because genetic diseases are already present in umbilical cord blood, the cells cannot help children who later develop that type of disease, although they could help family members.
You might want to consider donation to public banks that store blood for treatment and research.
"You also don't know what can happen. A lot of diseases, most diseases are not genetically based," he said, citing anemia and brain injuries.
"It's like an expensive insurance policy, but right now I can't tell you what my insurance is against,