If you are having a child, there is now an opportunity available that could have a major impact on your child’s health in the future. This once in a lifetime opportunity is the relatively new ability to preserve your newborn’s cord blood and cord tissue in a cord blood bank.

The cord blood banking cost varies depending on what company you choose and what pricing plans are offered. There may be special package price discounts if you decide to store cord tissue as well as cord blood. You must also be aware that there are several different costs that go into the total cord blood banking cost.

The first cost to consider is the first year costs, which include an initial processing and testing fee, as well as a shipping fee. Then you must add to that the costs for the first year of storage to get the total first year costs. There may be various payment plans offered to cover your first year costs.

Of course, the costs after the first year depend on how long you would like store your cord blood. Most companies will offer a fixed yearly storage rate that is set at enrollment. Some will offer a discount if you prepay a set number of years.

When you begin searching for a cord blood banking company, be sure to read the pricing plans carefully. Be sure to compare what services are being offered by each company to decide which one is right for you.

The cord blood banking cost of each company can vary by several thousand dollars, so take your time researching each company before you make your final decision. Costs can be anywhere from $995 to $2,195 for the first year, including processing, collection and shipping of the cord blood right after the birth of your baby.

The next main costs you will need to consider are the yearly storage fees. Storage cost per year can be anywhere from $95 to $250, depending on whether you are banking cord blood only, or both the cord blood and cord tissue.

There will also likely be an option to prepay for a set amount of years at a discount. For example, you can save $400 if you prepay for the first 18 years of storage.

If you think you want to store your cord blood for the maximum amount of time possible, it would be economical to go with the prepayment plan. These prepayment plans can vary from $2,250 to $4,100, depending on whether you are banking cord blood only, or cord blood and cord tissue.

The last thing you should look into regarding the cord blood banking cost is differences in cost in different parts of the country. You may be able to score substantial savings if you choose a company that has local facilities or locations in various cities in the U.S.