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Hearing Aids Cost and Hearing Aids Financing

How much do hearing aids cost, and is hearing aid financing available? Learn the cost, financing options, and if insurance covers hearing aids in this overview.

Posted January 13, 2021

Woman conducting hearing test on man wearing headphones

Hearing aids are small electronic devices that are fitted and customized to address different types of hearing loss. The hearing aids can provide the wearer to hear better in all types of environments whether its quiet or noisy. Digital hearing aids contain microphones that pick up sound, a computer chip that amplifies and processes sound, a speaker that sends the signal to your ear. Additional features available in advanced models include noise reduction, rechargeable batteries, wireless connectivity variable programming and remote controls. The types of hearing aids can be classified into two main product styles — in-the-ear (ITE) and behind-the-ear (BTE). Below we dive into the cost of hearing aids, if hearing aids are covered by insurance and how financing can help.

How much do hearing aids cost?

The average cost of hearing aids vary widely based on the device and level of technology but generally speaking they range in cost from $1,000 to $6,000 a pair.1 The two biggest factors effecting the cost of hearing aids are features and professional services associated with the selection, fitting, adjustments and overall maintenance of the hearing device.

Are hearing aids cost covered by insurance?

Hearing aids are generally not covered by medical insurance, though insurers sometimes offer plans that include coverage for hearing tests and fittings. You should check with your insurance provider to see what coverage may be available. Currently there are about 5 states that mandate health insurance companies provide full or partial hearing aid coverage for adults (and 23 states with mandates for children).2 If you live in a state that mandates coverage you’ll have to do a little research to find out how much is covered and how often a claim can be made, as well as other qualifiers for coverage. You can also check with your hearing care professional.

How can I pay for hearing aids?

If you are looking to purchase in-the-ear hearing aids and don’t have private medical insurance, live in a state where coverage is mandated, or need a way to pay for co-pays, deductibles or other out-of-pocket costs there are several payment options you can consider. If you have the funds readily available, of course you can tap into your savings. You may also be able to use a tax-free Health Savings Account (HSA) or Flexible Spending Account (FSA) to pay for the procedure. If you are interested in paying over time, it’s important to know very few providers extend credit to patients through their practice where patients would receive bills from, and pay the provider. Almost all accept general purpose credit cards and many accept the CareCredit credit card, which may be a convenient way to pay for the procedure.

Can I use my CareCredit credit card to pay for hearing aids?

Yes. If approved, you can use your CareCredit credit card at locations within the CareCredit network to finance hearing devices and other hearing care products. The benefit of using a CareCredit credit card is the opportunity to use promotional financing.* If approved, you can pay for the care you need immediately. You can also use your CareCredit card again and again to pay for other health, wellness and vision care needs. Use the Acceptance Locator or download the CareCredit Mobile App to find a nearby audiologist that accepts the CareCredit credit card.

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* Subject to credit approval.

The information, opinions and recommendations expressed in this content are for informational purposes only. Information has been obtained from sources generally believed to be reliable. However, because of the possibility of human or mechanical error by our sources, or any other, Synchrony and any of its affiliates, including CareCredit, (collectively, “Synchrony”) does not provide any warranty as to the accuracy, adequacy, or completeness of any information for its intended purpose or any results obtained from the use of such information. The data presented was current as of the time of writing. Please consult with your individual advisors with respect to any information presented.

Sources:

1 Mroz, AuD, Mandy (April 17, 2020). “Hearing aid prices.” Healthy Hearing. https://www.healthyhearing.com/help/hearing-aids/prices, accessed October 29, 2020.  
2 “State insurance mandates for hearing aids.” American Speech-Language-Hearing Association. https://www.asha.org/advocacy/state/issues/ha_reimbursement/, accessed October 29, 2020.