Hearing aids can be expensive, but the help they provide to those who have suffered hearing loss can be invaluable. They can help improve the quality of life, but though they are considered a medical device, many people do have to purchase them out-of-pocket. Budgeting for the cost can help ensure it’s possible to get hearing aids when needed to avoid having to go without.
Know the Price Expected
It’s important to know how much money is needed, since the cost of hearing aids can vary based on the provider, the features included, the technology used, and more. In most cases, hearing aids cost between $2,000 and $7,000, with the more expensive ones including the latest technology. Typically, the cost will include testing, fitting them, adjustments that may be needed, and warranty coverage. It’s a good idea to ask what’s included in the cost when discussing the price with the professionals to know exactly what to expect.
Use a Health Savings Account
Those who have a Health Savings Account (HSA) should look into whether the funds can be used to purchase hearing aids. In most cases, this is possible, and it can be a great way to cover the cost. Starting to save well ahead of time can be a great way to make sure the money is there when it’s needed. Plus, the contributions to an HSA are tax-free, so this can be a way to save a little bit of money, too. Look into the details for an HSA to learn more about how they work and how they can be used to cover the cost of hearing aids.
Ask About Payment Plans and Financing
Sometimes, it’s not possible to take the time to save up before hearing aids are needed, and it may not be possible to get financial assistance to cover the cost. In these cases, it may be a good idea to look into financing the purchase. This allows them to be obtained right away, but payments are made over time to make it more affordable. It is important to understand the interest rate used for financing the purchase and how that can impact the overall price paid for the hearting aids, as it can significantly increase the total cost.
Consider the Long-Term Expenses
When budgeting for hearing aids, don’t forget to consider the long-term expenses that may be needed. Some of these may be included in the overall price, but it is important to ask about this ahead of time so it’s possible to save for these expenses if needed. Long-term expenses for hearing aids can include regular maintenance to make sure they work properly, cleanings to keep them sanitized, and battery or charger replacements. It may also be beneficial to budget for upgrading them every few years, depending on the hearing aids’ lifespan.
If you or a loved one needs hearing aids, it’s important to know what your options are to help cover the cost. Take the time to look at insurance policies as well as other options to find out how to get help covering the cost of hearing aids to make them more affordable. This way, they can be used to improve the quality of life without causing a huge financial strain.
