Finding Financial Assistance for Your Hearing Aids

Photo by Andrew Magill https://www.flickr.com/photos/amagill/3366720659

The Value of Hearing Aids

• $5,000 ÷ 5 = $1,000 per year

• $1,000 ÷ 12 = $83.33 per month

• The average cable TV bill with internet and phone in the US = $160 per month

While the initial cost of a pair of hearing aids may seem high, consider that the monthly cost of better hearing is usually less than your cable TV bill. For example, let’s compare the monthly cost of a $5,000 pair of hearing aids over 5 years:

The Value of Hearing AidsBetter hearing, for less than $100 per month, builds stronger relationships and a feeling of reconnection with the people around you. That’s why virtually all of our patients agree that hearing aids are well worth the price.

But once you’ve decided to purchase a pair, do you have to pay for them with an up-front cash payment?

Financing options

While finding help to pay for your hearing aids can be difficult at times, there are several sources you should check out before making any final decisions. The following slides will show you some of these options.

Private Insurance

While private insurance varies by company and by state, many people find that their plans offer some type of assistance with hearing aids.

Start by contacting your own private insurance provider about any relevant programs.

Medical Flexible Spending Accounts

• Medical flexible spending accounts are a special type of account you can use to set aside money (pre-tax) to pay for out-of-pocket medical expenses.

• These accounts are usually use-it-or-lose it accounts, but are a great way to reduced your annual tax burden while obtaining vital medical care.

Medicare and Medicaid

• This is not the most common way to pay for hearing aids, and typically Medicare and Medicaid do not offer assistance.

• However, in limited circumstances some benefits may be provided. Check with a representative about your specific circumstances.

Veterans Affairs

If you’re a veteran, check with your local VA office to see if you qualify for benefits that could partially or completely pay for hearing aids.

Charitable Organizations

• If you meet the financial criteria, there are many charitable organizations that provide hearing aids or financial assistance for hearing aids.

• Check for both national and state organizations

Vocational Rehabilitation Programs

• Check your state’s vocational rehabilitation program.

• If hearing aids are required to obtain employment, your state may help you pay for them.

Financing

• Consider financing your hearing aids with credit cards or through other credit arrangements.

• Several programs exist, including CareCredit, which works like a credit card but is exclusive to healthcare services.

Resources

Check out these additional resources from the Better Hearing Institute and the Hearing Loss Association of America:

• http://www.betterhearing.org/hearingpedia/hearing-loss-resources/financial-assistance

• http://www.hearingloss.org/content/financial-assistance-programs-foundations

Thank You

If you’re still not sure where to start, or are having difficulty finding information, don’t hesitate to give us a call. We can point you in the right direction and can help you find the financing option that works best for you.

Your hearing is worth it—give us a call today!

www.hearinkentucky.com502-324-1103