Hearing aids amplify sound. They could be life-changing if you struggle to hear conversations or the TV. But paying for these devices can bring a serious case of sticker shock. Cost is one reason why 4 out of 5 people who need hearing aids don't use them.
Most private health insurance plans and Medicare won't pay for hearing aids, but there are finance options and programs to help you afford these devices.
What Does the Price Include?
Expect to spend $1,000 to $10,000 for a set of prescription hearing aids. The cost includes not only the devices, but also:
- Hearing tests
- Fittings
- Follow-up visits to the audiologist
- Repairs and batteries
The price also includes a 1- to 3-year warranty that covers repairs. More expensive models come with extra perks like Bluetooth connection, noise reduction, and remote-controlled programming.
If you don't want to pay a premium for prescription hearing aids, you can buy them over the counter (OTC) at stores like CVS, Walgreens, and Walmart. OTC models are thousands of dollars cheaper than prescription hearing aids. The average price is around $2,000, but some cost as little as $189 a pair. That price doesn't include a hearing exam, fitting, or follow-up visits. You may have to fit and program them yourself.
And while over-the-counter hearing aids might be fine for mild-to-moderate hearing loss, they may not amplify sound enough for more severe hearing loss.
Private Health Insurance
Most private health insurance plans don't cover hearing aids. Check with your plan, though, because it might pay for hearing tests and audiologist visits. Some health insurance companies will let you add on an optional hearing plan that does cover hearing aids.
If your health insurance won't cover the cost of hearing aids, you can use a flexible spending account (FSA) or health savings account (HSA) to pay for them. An FSA lets you set aside money from your paycheck pre-tax to pay for out-of-pocket medical expenses. An HSA is like a savings account that you use to pay for medical expenses.
Medicare
If you're over 65, your hearing aid coverage depends on which Medicare plan you have. Original Medicare won't pay anything for hearing aids and exams. Medicare part B might cover exams, but not hearing aids. Some Medicare Advantage (Part C) plans offer hearing benefits that do pay for these devices.
Medicaid
Medicaid coverage varies from state to state. States like California, Connecticut, Illinois, and Florida do cover the cost of exams and hearing aids under their Medicaid programs. Others won't pay for anything. You can check your state's hearing aid coverage on Medicaid.gov.
If your insurance won't pay, there are other ways to make hearing aids more affordable.
Finance Options
Ask your audiologist if they'll let you break up your payments into smaller monthly installments using a line of credit or credit card. You'll have to fill out an application and the finance company will check your credit. Some companies offer no-interest financing for 12 months, but you will have to pay interest if you miss any payments.
Another option is to lease your hearing aids, just like you would lease a car. The payments are spread out over 3 or 4 years. At the end of the lease, you trade in your hearing aids for new ones. Leasing is a way to get the latest technology without spending a fortune.
These are a couple of the companies that offer hearing aid financing:
CareCredit. If your audiologist accepts this program, you can use a CareCredit card like a regular credit card. It breaks up your payment into smaller monthly installments.
Helpcard. This card is also like a credit card. It lets you divide your hearing aid payment into smaller amounts.
Other Ways to Pay for Hearing Aids
Federal Employees Health Benefits Program (FEHBP). This program offers hearing aid coverage for some government employees.
Financial assistance. Nonprofit organizations like these will help cover the cost of your hearing aids if you qualify:
- Air Force Aid Society
- EPIC Hearing AUDIENT Program
- Hear Now (Starkey Hearing Foundation)
- Let Them Hear Foundation
- Lions Club International
- Miracle-Ear Foundation
- Quota International
State government programs. Some states offer programs to help their residents pay for hearing aids. To find out if one of these programs is available where you live, check with your State's Department of Rehabilitation, Department of Human Services, or Department of Vocational Rehabilitation.
VA benefits. Some veterans can get hearing aids for free through the U.S. Department of Veterans Affairs (VA). To apply, visit your local VA Medical Center or clinic.
What to Ask Before You Buy
Even with insurance coverage and other financial assistance, hearing aids are a big investment. Here are a few questions to ask your audiologist to make sure you're getting a good value for your money.
Can I try them out? See if you can wear the hearing aids for a few days or weeks to make sure they're right for you. Just check that you can get your money back or use it toward another set of hearing aids if you don't like the model you try.
How long will it last? Some hearing aids last longer than others. You don't want to invest a lot of money on a model that's only good for a year or two. Also ask whether you can increase the power if your hearing loss gets worse. Otherwise, you might have to buy new hearing aids sooner than planned.
Does it come with a warranty? The longer the warranty, the better if you plan to keep your hearing aids for a few years. The warranty should cover both parts and labor.
Show Sources
Photo Credit: E+ / Getty Images
SOURCES:
AARP: "Hearing Aid Leases Offer Budget-Friendly Option."
Better Hearing: "The Price of Hearing Aids," "What Do You Need to Know About the Price of Hearing Aids?"
Hearing Industries Association: "Your Guide to Financial Assistance for Hearing Aids."
Hearing Loss Association of America: "Medicaid."
Mayo Clinic: "Hearing Aids: How to Choose the Right One."
Medicare.gov: "Hearing Aids."
National Council on Aging: "9 Best Over-the-Counter (OTC) Hearing Aids: Expert Tested & Reviewed," "13 Best Hearing Aids of July 2023: Expert Reviewed," "Only 1 in 6 Americans with Hearing Loss Wears Hearing AIDS—Here's Why."
National Institute on Deafness and Other Communication Disorders: "Quick Statistics About Hearing."
The White House: "Fact Sheet: Cheaper Hearing Aids Now in Stores Thanks to Biden-Harris Administration Competition Agenda."
U.S. Department of Veterans Affairs: "Rehabilitation and Prosthetic Services."
