Hearing Aids and Insurance

If you are one of the 50 million plus Americans that needs hearing aids to manage hearing loss, tinnitus, or another condition, the financial elements should be the last of your concerns. Nonetheless, it’s impossible to think about your purchase without considering the financial implications, which is why a little understanding of insurance claims and other payments is essential.

When you’re clear on these aspects, you can focus solely on restoring clarity to your daily life through the best hearing aids on the market. Here are the answers to all the questions that you’re likely to have.

Why should you purchase hearing aids?

Hearing aids are an investment in your health, which makes them integral to your daily life, whether it’s communicating with family and friends or your coworkers. Hearing aid prices depend on several different factors, and your audiologist will help you get the right device for your specific needs, whether it’s a basic or more advanced model.

So, you are getting quite a lot for your money, especially when warranties often cover replacement for lost hearing aid devices (although this can only be executed once in most cases) for up to three years.

Why the variance in prices?

While the included costs of hearing tests and consultations remain the same, the overall cost of getting hearing aids fluctuates depending on the style and features. Many contributing factors can influence the total outlay, including but not limited to:

• Brand of hearing aid
• Style of hearing aid
• Additional features
• Single or a pair of hearing aids
• Warranty length
• Earmold style

With so many options on the market, the best option is to speak to the audiologist about the results of your hearing test as well as the personal preferences you have. This should enable you to make the most informed decision.

• Can I claim for hearing aids on my medical insurance?
• While it is possible that hearing aids will be covered by your medical insurance, the harsh reality is that the answer is far more likely to be no.

Some states do require hearing aids to be covered by medical insurance, but this typically only includes children. This means adults will have to fork the bill themselves. Meanwhile, Medicare insurance holders are unlikely to get the answer that they want either – unless they have the best Medicare Advantage policies.

It’s always best to speak with the insurance company and the audiologist to confirm the situation. As a rule of thumb, though, it’s best to assume that you won’t get financial support from medical insurance.

So, how can I pay for my hearing aids?

Facing a four-figure expense can be daunting but you don’t have to face it alone. There are several options available, which is why the costs should never stand in your way of gaining the hearing support that you need.

Some of the most common and popular options are:

• Pay cash, so that the purchase is promptly completed
• Use a credit plan with no interest on the purchase of medical devices
• Take out a personal bank loan to pay for the hearing aids and pay back the plan
• Use a credit agreement offered by the audiologist

The latter option is a very popular solution indeed. Not only does it cushion the blow, but it provides peace of mind as you’ll know that the audiologists will have to be fair in terms of repairs and cleaning for as long as you are paying back the monthly agreement.

Depending on the cost of the devices, a 24 or 36-month plan is usually advised.

What else do I need to know?

Hearing aids aren’t an unnecessary expense; they are an investment into a healthy and happy future. Nonetheless, you won’t want to waste money unnecessarily. Choosing the right brand and the right features is essential if you want to gain value for money.

More importantly, though, you need to make the perfect choice at the first attempt. There’s nothing worse than having to make a secondary purchase in 12-months time or realize that you’re stuck with hearing aids that don’t quite do the job.

When combined with finding the right repayment plan, you’ll have multiple reasons to smile.

Book a hearing test today

The first step en route to getting the best hearing aids is to book a hearing test at Hearing Aid Consultants of North Mississippi. Give us a call at (662) 234-1337 today, and we’ll guide you through every step of the process.