Many of today’s more advanced hearing aids can fully restore your sense of hearing, but these devices can come with a high price tag. According to the President’s Council for Science & Technology,1 you should plan to spend around $2,300 per hearing aid. If you need a unit for each ear, you’re looking at spending upward of $5,000.
|Brand||Most Popular Model||Price|
|Unitron||Unitron Moxi Tempus||$2,350|
|Phonak||Phonak Audeo B||$1,350|
|Widex||Widex Beyond Fusion||$2,100|
You can’t put a price tag on the ability to hear, but the truth is, most people don’t have $5,000 laying around. Fortunately, there are several ways to reduce your out-of-pocket expense when buying hearing aids. Here’s a closer look at what you can expect to pay for hearing aids, whether or not your insurance will help cover the cost, and different programs you can check into that provide financial assistance for hearing aid devices.
How Much Do Hearing Aids Cost and What's Included?
When you buy a hearing aid, you pay for much more than the device itself. Along with the device, the hearing aid cost usually covers a hearing test, a consultation, your initial fitting session, multiple follow-up adjustments, and in some instances, the hearing aid cost covers routine cleanings along with a warranty.
As far as the warranty goes, many hearing aids come with up to two to three years of warranty coverage. The warranties often cover all types of repair expenses, and some even come with a one-time replacement policy, which is of immense advantage if you lose a hearing aid.
If you prefer, you may be able to take advantage of an “unbundle” pricing scheme when buying a hearing aid. This type of pricing allows you to pick and choose which device and services you want. This way, you’re not paying for services that you know you will never use. Let's say you don’t want to pay for a ‘loss and damage’ warranty. When you opt for an “unbundle” hearing aid deal, you don’t have to pay for a warranty if you don’t want one.
What Impacts How Much Hearing Aids Cost?
Most times, the most significant factor that impacts your hearing aid cost is the device's technology and features. Although the prices of hearing aids have not gotten less expensive, the technology these devices use has most definitely become more sophisticated. Hearing aids that used to be considered top of the line even a year or two ago are now considered as basic hearing aids.
If you opt for the most advanced technology in a hearing aid, you can expect to receive some of the greatest features available, such as wireless capabilities and even phenomenal levels of advanced noise reduction circuitry. If you’re not interested in the best of the best, though, you can always opt for a more affordable version that still provides great hearing capabilities.
Are Hearing Aids Worth the High Cost?
Hearing aids are most definitely worth the high cost. Think about it. Let's say you purchase a hearing aid for $3,800 and you wear it for seven years. This means you are paying $543 a year for the hearing aid. That's $45.25 a month, or $1.51 a day. Having the ability to hear is definitely worth $1.51 a day!
Does Insurance Pay for Hearing Aids?
Roughly 40 percent of Americans tap into some sort of third-party payment assistance when it comes to covering the cost of hearing aids. You should start by checking with your insurance provider to see if any type of financial assistance is available to pay for your hearing aid. Most insurance plans that feature some type of hearing aid coverage will cover about 85 percent of the total hearing aid cost, and this applies only every few years.
For those of you who have served in the U.S. military, you should check with the Department of Veteran Affairs to see whether you qualify for hearing aid payment assistance. Much of the time those who qualify will receive full coverage on hearing aid costs, including coverage for the device, consultations, fittings, repairs, and more.
If you're still concerned about affording hearing aids, there are a few ways that some older adults can qualify for free hearing aids.
Are Hearing Aids Tax Deductible?
Good news! If you itemize deductions, you can deduct the cost of hearing aids and associated costs on your federal income taxes. According to the IRS, this includes the cost of hearing aids, batteries, maintenance, and repairs required to use your hearing aids.2 If your spouse or dependents have hearing aids, make sure to deduct their costs as well.
Should You Buy Hearing Aids Online?
You may be able to find great deals online for hearing aids, with many of the deals significantly reducing your hearing aid cost. However, it's pertinent to understand that ordering hearing aids through the mail or online does come with a major drawback — you probably won't receive a consultation or unique fitting session.
When you purchase hearing aids through a local hearing clinic, you gain the advantage of having the devices precisely calibrated to your hearing loss needs. Your consultation and fittings play a large role in whether the hearing aid helps you achieve optimal hearing. However, many over-the-counter hearing aids come with virtual fittings and consultations, so they're still worth considering for the discounted price. Speak with your doctor or audiologist to decide if online hearing aids are right for you.
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