When you have hearing loss, buying hearing aids is a critical investment in your quality of life, relationships, career, and health. Hearing is a vital function in everyday life, and hearing aids can help you hear better. The price of hearing aids can range anywhere from $650 for entry-level hearing aids to $3,500 for more sophisticated technology per ear. And many patients require two hearings aids. The cost of hearing aids can be a barrier to getting the treatment you need, but there are financing options available.
Why Do Hearing Aids Cost So Much?
The price associated with hearing aids often includes more than just the device. Hearing aids cost a lot, in part, because they typically include several services, such as initial recommendation, fitting, verification, programming, review of use/care, follow-up appointments, ongoing maintenance, and device warranty services. Some manufacturer warranties cover the cost of repairs, while others also cover the cost of a replacement with a deductible if the device is lost.
To better understand the cost you will pay, ask your audiologist which services and warranties are included in the price.
Factors Determining Cost
Though hearing aids can no doubt be expensive, nearly every manufacturer’s product lines consist of varying performance levels at different price points. Most significantly, the price of the hearing aids will increase depending on the sophistication of the technology features included.
Lower-cost hearing aids that include only basic technology are limited in their ability to be customized, but they may be able to meet your basic needs, depending on your degree of hearing loss and your lifestyle needs. However, if you are looking to include many advanced technological features, such as feedback/whistle control, noise management, advanced speech processing, smartphone integration, wind reduction technology, data logging, self-learning features, and binaural processing capabilities, you can expect to pay more for your devices.
Your Insurance May Not Cover the Cost
If you have health insurance, check with your provider to determine whether or not you have insurance coverage for hearing aids. Coverage varies widely. Some insurance carriers will only pay a specified amount toward the purchase of hearing aids, either toward the entire purchase or per ear, while others will not cover any cost related to the devices.
It’s important to understand the out-of-pocket costs you will incur before you make a purchase.
Financing Option: CareCredit
CareCredit is a finance program for patients who don’t have insurance and require healthcare services and devices. It works like a credit card and is widely accepted by healthcare professionals, including audiologists. CareCredit can offer the financial help you need to purchase your hearing aids.
CareCredit offers convenient monthly payment options and there are no annual fees, prepayment penalties, or up-front costs. You can choose from a longer-term plan with a fixed interest rate or a short-term plan with no interest, depending on your financial needs.
To determine whether your insurance plan covers the cost of hearing aids, and to explore your options for payment, please contact our offices. Our staff is experienced in researching these questions for our patients and can assist you in meeting your budget needs.