Did you know that a third of adults over the age of 65 have some level of hearing impairment?
Knowing that statistic, it’s shocking that Original Medicare (Parts A and B) does not cover hearing aids or usually even hearing exams. The average cost for just one hearing aid is $2400. Need two? Now you’re looking at nearly $5000. That’s a hefty price to pay for most of us.
Let’s discuss the options you have to secure coverage that will help with these costs.
While hearing aids and exams are not covered under Parts A and B in most cases, there are special circumstances when benefits are provided.
- If there is trauma causing hospitalization, Part A may provide coverage.
- If your health care provider orders a hearing exam to diagnose vertigo or dizziness, Part B may provide coverage.
- In cases of severe hearing loss, Part B may also cover cochlear implants.
In case your needs don’t fall into one of those three situations, you should consider hearing insurance in one of these additional plans.
Medicare Advantage Plans
Many Medicare Advantage Plans (also known as Part C) have hearing benefits. A Medicare Advantage plan may offer some of the following benefits:
- Hearing exams
- Hearing aid fitting
- Hearing aids
- Hearing aid maintenance
Enrolling in Part C can have great benefits for its members. In previous articles, we’ve mentioned that there are trade-offs to consider. However, some of these plans offer a $0 premium, making them very appealing for many individuals.
Dental, Vision, and Hearing Plans
If you choose to keep Original Medicare and not enroll in Part C, you can shop for a separate Dental, Vision, and Hearing policy.
These policies provide coverage for these services that Original Medicare does not include. They are offered by private insurance companies.
Your monthly premium, deductible, and benefits will vary greatly depending on the plan. Some of these plans even increase your coverage and benefits the longer you are enrolled in the plan.
Is there anything else I can do to help pay for my hearing aids?
There are companies that allow you to purchase hearing aids online. However, they still require you to provide a recent hearing test, called an audiogram.
If you have a Health Savings Account (HSA) from your previous employment, that is a great way to pay for hearing aids and exams tax-free.
Lastly, the Hearing Aids Association (HIA) has a complete list of organizations and services that may help cover some of your cost for hearing aids.
We hope this has been helpful information on both why having hearing insurance is beneficial and how you can secure your own policy. If you’ve got more questions, we’d be happy to help! Give our office a call today and speak to one of our knowledgeable agents.
As always, John is here to help answer all of your Medicare and insurance questions! Call him at 801-637-4420.