The soaring costs of hearing aids have been a cause for concern, especially among senior citizens, who often bear the brunt of the costs. With hearing loss affecting a substantial percentage of adults aged 65 and older, there is an urgent need to make these life-improving devices more accessible and affordable. Seniors aren’t exactly out of luck. Advancements in technology, an increase in over-the-counter options, and a variety of financial assistance programs creates a lot of opportunities to save. There are a wide variety of choices available, and you can find the most affordable hearing aids if you start searching now – before it’s too late.
Medicare and Ear Health
Medicare, the federal health insurance program for seniors, unfortunately does not cover routine hearing care, hearing aids, or exams for fitting hearing aids. However, it does cover medical conditions related to the ear. This is a significant gap in Medicare’s coverage, considering the high prevalence of hearing loss in seniors.
The average Medicare beneficiary who availed hearing care services in 2018 had to pay $914 out-of-pocket, with some spending upwards of $3,600 for hearing services. It’s worth noting that you can obtain hearing coverage through Medicare Advantage plans, some state Medicaid programs, and the U.S. Department of Veterans Affairs health benefits, if you qualify.
Over-The-Counter Hearing Aids
A significant development for hearing loss sufferers has been the FDA’s approval of over-the-counter hearing aids for mild to moderate hearing loss. These aids are predicted to save customers an average of $2,800 per pair. Available in pharmacies, stores, and online, these aids offer the same convenience and ease of access as reading glasses.
Cost-Effective Alternatives to Traditional Hearing Aids
Navigating the landscape of affordable hearing aids can be complex. However, various options exist to mitigate the costs associated with these essential devices:
- Hearing discount programs: Numerous programs offer substantial savings, often in exchange for membership or monthly fees. Some Medigap plans, for example, offer membership in hearing care discount programs.
- Hearing aid subscription plans: Paying a regular monthly fee instead of a lump sum can help manage your budget while ensuring access to the hearing aids you need.
- Local hearing aid programs: Organizations such as Kiwanis Clubs, Lions Clubs, and Area Agencies on Aging offer programs that help with the cost of hearing aids.
- Charitable foundations: Certain charitable foundations provide financial assistance or even free hearing aids to those who meet their criteria.
- State medicaid programs: If you’re eligible based on your income, some state Medicaid programs cover the cost of hearing aids and related exams.
- Retiree health insurance: If you have retiree health insurance, your plan may cover some of the costs associated with hearing aids or offer discounts.
- Veterans healthcare: For eligible veterans, the U.S. Department of Veterans Affairs provides hearing services and hearing aids.
Exploring these options can help you find a more affordable solution that fits your budget and needs.
Research Financial Assistance Programs
There are various local, state, and national programs designed to help people with low income or certain qualifying conditions to access affordable hearing aids. Non-profit organizations, state vocational rehabilitation programs, and foundations often have programs that provide free or discounted hearing aids to those who meet their criteria.
For instance, the Starkey Hearing Foundation’s Hear Now program provides hearing aids to low-income Americans. Do some research online or consult with your audiologist to discover which programs you may be eligible for.
Explore Online Marketplaces
With the rise of digital marketplaces, you can now shop for hearing aids online from the comfort of your home. Websites like eBay, Amazon, and specialized online hearing aid retailers often sell hearing aids at a fraction of the cost compared to traditional brick-and-mortar stores. Some of these sites also offer free consultations and customer support, so you don’t miss out on the personalized service.
While buying online, ensure the hearing aids are FDA-approved, come with a warranty, and include support for fitting and adjustments. Be cautious of deals that seem too good to be true, as they may be counterfeit or subpar products. Always check reviews and do your research before purchasing.
Start Saving Today
Hearing loss is a common but treatable condition that affects a substantial portion of the senior population. Despite the current coverage gaps in Medicare, there are numerous ways to save on hearing aids. From over-the-counter aids to discount programs and local hearing aid initiatives, the choices are varied and many.
If you are a retiree, a veteran, or eligible for Medicaid, you may find additional avenues for assistance. As the landscape of healthcare and technology continues to evolve, we can hope for more affordable and accessible solutions in the near future.
