That's Right Johnny, We're Banking On Your Umbilical Cord

What's the controversy? Deciding who really needs to
store a child's own cord blood for later use. Private storage costs $1,500 to
$1,900 up front, and about $125 a year thereafter, although some offer special
programs for lower-income families.

Guidelines published last month by the American Academy of Pediatrics say:

- Parents should consider private storage only if an older sibling has cancer or certain genetic diseases that cord blood is proven to treat.

Everyone else should consider donating their child's cord blood.

However, the chances that a child would need his or her own cord blood later in life are extremely low, between one in 1,000 and one in 200,000.

Doctors in Illinois claimed last month that they had apparently treated a child with leukemia using her own cord blood. That was previously considered impossible (and some are still not convinced) because cord blood usually carries the cancer-triggering genetic defect.

Dr. Ammar Hayani said that parents have flooded Advocate Hope Children's Hospital asking if they should store their babies' cord blood.

"It's probably over advertised by some of these companies as this biological insurance. That's probably over dramatization of its potential," Hayani said. "But I think parents need to know" both sides' arguments, he said.