Finding Financial Assistance for Your Hearing Aids

The saying “you get what you pay for” is definitely true of hearing aids, and though contemporary hearing aids are engineered to be more effective than ever, they’re not exactly cheap, either.

Fortunately, modern digital hearing aids, while not cheap, ARE becoming more inexpensive, in the same manner that the majority of consumer electronics are becoming more affordable (A 20-inch high-definition TV cost $1,200 in 1999; it costs just $84 today). And when you stop to think about it, we tend to spend a lot more money on things that simply do not increase our quality of life to the magnitude that a pair of hearing aids can.

Let’s say, for instance, that a pair of hearing aids costs $5,000. Presuming the hearing aids last 5 years, that equals a monthly price of only $83.33 per month. Many people shell out more money on their cable tv bill, and that’s why the majority of our patients openly admit that while the initial cost seems large, the monthly cost, relative to the benefit they receive from healthier hearing, is more than worth it.

The question is, would you be willing to devote less than 100 dollars per month to have better conversations and interactions with your family and friends? Most people would, and that’s why so many people elect to invest in hearing aids.

But once you elect to purchase hearing aids, what are your options for paying for them? Despite conventional beliefs, you have a range of possible options.

Financing options for hearing aids

The very first mistake people make is assuming that no financial assistance is possible. While finding assistance can be frustrating at times, there are in fact numerous resources that you should inquire about before making a decision to hand over a full cash payment. Here are some of the steps we recommend taking:

• Begin by speaking to your private insurance provider. While private insurance differs by company and by state, many people discover that their private insurance supplies some form of assistance with hearing aids.
• Look into using a medical flexible spending account. This is a special type of account you can use to set aside money (pre-tax) to pay for out-of-pocket medical costs.
• Check your Medicare and Medicaid benefits. This is not the most usual way to help pay for hearing aids, but Medicare and Medicaid do supply benefits in specific limited scenarios.
• Contact your local VA office if you’re a veteran. Veterans may obtain benefits that can help partly or completely pay for hearing aids. Check with your local VA office for more information.
• Search for charitable organizations that supply hearing aids or financial support. If you satisfy the financial conditions, there are a number of charitable organizations that provide hearing aids or financial assistance for hearing aids. We’ll share some resources for you in the next section.
• Check your state’s vocational rehabilitation program. If hearing aids are necessary for work, your state may help you pay for them through its vocational rehabilitation program.
• Consider financing your hearing aids. Several programs can be found, including CareCredit, which works like a credit card but is exclusive to healthcare services.

Additional resources

There are far too many options and resources to name, and many programs are specific to the state you live in or to the specific institutions you’re affiliated with. So, in place of browsing a long list of resources, it’s best to search for programs specific to your state or situation. For example, performing a Google search for “hearing aid funding in ” or “hearing aid assistance for veterans” will likely provide some worthwhile results.

You might also want to take a look at the list of financial resources from the
Better Hearing Institute and the Hearing Loss Association of America, both of which list programs by state and incorporate lists of a variety of charitable organizations.

If you’re still not certain where to get started, 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—call us today!