Hello. I actually had group B strep with my daughter. They test you for it at about 32 weeks along because it comes and goes in many women. Basically all I had to do was be put on an IV w/ antibiotics (had to have 2 bags emptied before baby was born), and stayed in the hospital 48 hours to make sure everything was fine.
My doctor says a lot of women have group strep B at the time of delivery, and as long as it's treated, there is virtually no risks.