The majority of older adults experience hearing loss and need assistance from a hearing aid. A hearing aid, however, can come with a hefty price tag, and they must be replaced when they fail, so they are rarely a one-time purchase.
While most insurance plans like Medicare Advantage do not cover hearing aids, they may cover specialist appointments. On the other hand, hearing aids for seniors are covered by Health Savings Plans.
One reason why seniors may choose to ignore their hearing impairment is the cost involved. Two hearing aids cost approximately $2,300 each, which is a substantial financial strain for seniors with limited income.
The majority of hearing aids start at around $1,500, while specialized hearing aids can range from $5,000 to $7,000. Furthermore, seniors are frequently required to pay for hearing tests and other specialized care in order to determine whether they require hearing aids.
Hearing aid prices vary greatly, but this does not always reflect their overall effectiveness. What works for one person may not work for another, as with most things, we want to fit into our bodies.
More expensive hearing aids may include high-end features such as Bluetooth wireless connectivity or tinnitus masking.
It is best to speak with an insurance representative if you are unsure whether your coverage includes hearing aids. Check with your primary care provider to see if your insurance covers a referral to an otolaryngologist or audiologist.
Some insurance companies cover the specialist's office visit but not the hearing test or hearing aids. Some insurance companies will cover the test but not the devices, while others will not cover any hearing-loss-related expenses at all.
Hearing aids are not covered by Medicare in most states, but some states cover both ears of patients with hearing impairment. Medicare Advantage plans cover some or all of the costs associated with obtaining a hearing aid.
If you need hearing care, including testing and devices, you should check with your Medicare Advantage provider to see if it is covered under your current plan. The insurer can typically recommend a suitable plan if they do not have the coverage you need.
If all other options have been exhausted and you must pay for your hearing aids out of pocket, don't forget to use your health savings plan — if you have one! Because hearing aids are medical devices, you can pay for them with a health savings plan.
Hearing aids can be purchased using health savings plans such as your Flexible Spending Account (FSA), Health Savings Account (HSA), and Health Reimbursement Account (HRA).
Some major hearing aid manufacturers, such as Miracle-Ear and Starkey, have established foundations to provide free hearing aids to people who need but cannot afford them.
You can fill out an application and see if you qualify for assistance from the Miracle-Ear Foundation and Starkey Hearing Foundation by visiting their websites.
It is possible to reduce the cost of hearing aids by arranging financing and payment plans. In some cases, your audiologist may be able to assist you in locating hearing aids that are within your budget.
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