--- title: Does Insurance Cover Cord Blood Banking? date: 2018-12-20T03:00:00-05:00 author: Courtney Flickinger canonical_url: "https://www.americordblood.com/articles/insurance-cord-blood-banking" section: Articles --- ![An image of office essentials and a cup of coffee on a table](https://assets.americordblood.com/transforms/blogs/73228/insurance-costs-cord-blood-americord_ad77d1a1570901bc846ae9cd86ad5a32.png) [ BioBanking Services ](https://www.americordblood.com/articles/biobanking-services) 3 Min Read # Does Insurance Cover Cord Blood Banking? When considering banking baby’s umbilical cord blood, the first questions are often "How can I pay for cord blood banking?" and "Does insurance cover the costs of cord blood banking?” We rounded up the top ten insurance companies for you to help clarify their reimbursement policies. Learn how you can pay for cord blood banking through insurance, Flexible Spending Accounts, Health Spending Accounts, and more! ## Which insurance companies cover cord blood banking? Some insurance providers will cover the cost of cord blood banking when collection is medically necessary. For example, depending on the provider, families with a history of leukemia or other blood disorders may be eligible for total or partial coverage of the costs of cord blood collection and storage. Among the top ten insurance providers, coverage varies for both cord blood banking and stem cell treatments, as follows: ![A table displaying stem cell treatment coverage provided by insurance companies.](https://assets.americordblood.com/transforms/blogs/73891/insurance-companies-stem-cells-americord_be7aaffd48750bec4e355d7110544d3f.png) ![A table displaying stem cell treatment coverage provided by insurance companies.](https://assets.americordblood.com/transforms/blogs/73892/insurance-companies-coverage-stem-cells-americord_be7aaffd48750bec4e355d7110544d3f.png) ## Are there other programs that help pay for cord blood banking? Yes. FSAs (Flexible Spending Accounts), HSAs (Health Spending Accounts), and HRAs (Health Reimbursement Arrangements) are all special un-taxed accounts you can use to pay for out-of-pocket healthcare costs. FSA and HSA accounts will sometimes cover cord blood banking when medically necessary. According to the FSA store, account holders are eligible for cord blood storage with a Letter of Medical Necessity from a physician. A Letter of Medical Necessity must state that the cord blood will be used to treat an “existing or imminently probable disease.” ## Other things to consider when budgeting for cord blood banking See if cord blood banking is tax deductible for you: if your child or a family member has a medical condition that could be treated by cord blood, then your expenses will be tax-deductible. Use a payment plan: some [cord blood banking covered by insurance](https://www.cigna.com/individuals-families/health-wellness/hw/medical-topics/pregnancy-zx1634) will allow you to pay in installments. Americord offers a 24-month payment plan to families who would prefer not to pay the entire cost upfront. ### How much should I expect to pay for banking cord blood? Prices vary among cord blood banks, so make sure to comparison shop. There are so many options when it comes to [cord blood banking insurance](https://www.americordblood.com/cord-blood) that it can be overwhelming. That’s why we created our pricing calculator so that you can see where your dollars will stretch the farthest. ## Quick Guide to Insurance Codes for Cord Blood Banking If your insurance will cover your cord blood costs, there are several Current Procedural Terminology (CPT) codes you should know for billing. A CPT Code is used to report medical procedures to health insurance companies to aid with billing. Insurance companies also use ICD code for cord blood collection. An ICD code stands for the International Classification of Diseases, and it’s a system used to classify all diagnoses and procedures in the United States. ### Collection and Banking ![A table listing stem cell transplant terms, including insurance codes, for concise medical reference.](https://assets.americordblood.com/transforms/blogs/73903/insurance-codes-stem-cells-americord_be7aaffd48750bec4e355d7110544d3f.png) ### Stem Cell Treatments ![A table listing bone marrow and stem cell transplant terms, including insurance codes, for concise medical reference.](https://assets.americordblood.com/transforms/blogs/73908/insurance-codes-stem-cell-treatments-americord_be7aaffd48750bec4e355d7110544d3f.png) ![Call to action guiding readers to download the Americord info guide to prepare for their family's future.](https://assets.americordblood.com/transforms/blogs/110628/prepare-for-future-info-guide-americord_be7aaffd48750bec4e355d7110544d3f.png) ## Ultimately, banking your child’s cord blood is worth the cost. Stem cells from cord blood have been used to save countless lives for almost three decades, and doctors are discovering new ways that cord blood could potentially be used to treat diseases like Alzheimer’s and ALS. Today, more than 80 diseases, including leukemia and other blood disorders, can be treated with stem cells from cord blood. Since it can be frozen for up to 20 years, stem cells from your child’s cord blood will be on-demand in case your child—or their siblings—ever needs it. To find out the true costs of cord blood banking, click [here](americordblood.com/pricing). **Sources:** - [Anthem.com: Medical Policies](https://www11.anthem.com/medicalpolicies/policies/mp_pw_a045960.htm) - [ A. (n.d.). *Stem cells for hematopoietic cell transplant - Medical Clinical Policy Bulletins | AETNA*. Aetna.](http://www.aetna.com/cpb/medical/data/100_199/0190.html?TLAETGuid%2564TS_101_R0=e3db1b7e1e1273657a73c2b063bd9fdeaw600000000000000000387972fffff000000000000000000000000000058e6e76800e7b17caf) - [ *Resources and tools for providers and health care professionals | UHCprovider.com*. (n.d.).](https://www.uhcprovider.com/?rfid=UHCOContRD) - [*Health Encyclopedia: Search health topics | Kaiser Permanente*. (n.d.). Kaiser Permanente.](https://healthy.kaiserpermanente.org/health-wellness/health-encyclopedia) - [*Wellness Library | Cigna*. (n.d.).](https://www.cigna.com/individuals-families/health-wellness/hw/medical-topics/autologous-stem-cell-transplant-tv7001) - [*TRANS.00028 Hematopoietic stem cell transplantation for hodgkin disease and non-Hodgkin lymphoma*. (2023, April 12).](https://www.unicare.com/dam/medpolicies/unicare/active/policies/mp_pw_a047489.html) - [*MCD Search*. (n.d.).](https://www.cms.gov/medicare-coverage-database/overview-and-quick-search.aspx?FriendlyError=NoNCDIDVersion) - [*Cord Blood Storage | FSA Store*. (n.d.). Shop All Cord Blood Storage AND Constant(' Products From ’) AND Site.displayName AND Constant('. ’) AND Site.displayName AND Constant(' Is Your One-stop-shop for Flexible Spending Accounts Where You Can Buy FSA Eligible ’) AND Category.displayName AND Constant(' Products.’)}.](https://fsastore.com/FSA-Eligibility-List/C/Cord-Blood-Storage-E176.aspx) - [ IRS: PDF](https://www.irs.gov/pub/irs-wd/10-0017.pdf) - [*Medical Coding & Billing Tools - CPT®, ICD-10, HCPCS Codes, & Modifiers - Codify by AAPC*. (n.d.).](https://www.supercoder.com/coding-newsletters/my-ob-gyn-coding-alert/clear-up-confusion-about-cord-blood-harvesting-article) - [*CPT® Code 38205 - Bone Marrow or Stem Cell Services/Procedures - Codify by AAPC*. (n.d.).](http://coder.aapc.com/cpt-codes/38205) *The views, statements, and pricing expressed are deemed reliable as of the published date. Articles may not reflect current pricing, offerings, or recent innovations.* ### Cord Blood Banking Preserve your baby’s umbilical cord blood stem cells with CryoMaxx™ Processing and use in 80+ FDA-approved treatments and 100’s of clinical trials including autism, diabetes, childhood leukemia, sickle cell disease, and more. [ View Service ](https://www.americordblood.com/cord-blood) ### Be the First to Know Never miss the latest cord blood breakthrough, clinical trial, or stem cell education to keep your family healthy for life. Sign Up Share [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.americordblood.com%2Farticles%2Finsurance-cord-blood-banking "Facebook") [ ](https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.americordblood.com%2Farticles%2Finsurance-cord-blood-banking "LinkedIn") [ ](mailto:?body=https%3A%2F%2Fwww.americordblood.com%2Farticles%2Finsurance-cord-blood-banking "Email") ## Related Articles [ ![A scale with two houses and a dollar sign.](https://assets.americordblood.com/transforms/blogs/8600/comparison-cord-blood-banking-cost_41a4f2ed037c5ad51696884668d44cc6.png) ](https://www.americordblood.com/articles/americord-most-affordable-cord-blood-comparison-with-cbr-viacord) [### Cord Blood Banking Cost Comparison: CBR, Viacord, and Americord ](https://www.americordblood.com/articles/americord-most-affordable-cord-blood-comparison-with-cbr-viacord)See how Americord offers competitive pricing in comparison to competitors like CBR or Viacord, and learn more about the benefits we offer. [ Read More ](https://www.americordblood.com/articles/americord-most-affordable-cord-blood-comparison-with-cbr-viacord) [ ![A mother tenderly cradling a child in her arms.](https://assets.americordblood.com/transforms/blogs/30576/cord-blood-banking-baby-mom-americord_41a4f2ed037c5ad51696884668d44cc6.png) ](https://www.americordblood.com/articles/what-is-cord-blood-banking) [### What is Cord Blood Banking? ](https://www.americordblood.com/articles/what-is-cord-blood-banking)Cord blood banking collects the cord blood and life-saving stem cells from the umbilical cord after birth, cryogenically freezing for future medical use. [ Read More ](https://www.americordblood.com/articles/what-is-cord-blood-banking) [ ![Prenatal check-up with healthcare provider.](https://assets.americordblood.com/transforms/blogs/8929/cord-blood-banking-worth-it-americord_41a4f2ed037c5ad51696884668d44cc6.png) ](https://www.americordblood.com/articles/is-cord-blood-banking-worth-it) [### Is Cord Blood Banking Worth It? ](https://www.americordblood.com/articles/is-cord-blood-banking-worth-it)As more and more families choose to invest in their newborn’s future with cord blood banking, you may be asking yourself if cord blood banking is right for your family. [ Read More ](https://www.americordblood.com/articles/is-cord-blood-banking-worth-it)