Thursday, 15 July 2021 14:25

Hearing it All: Seniors Can Save Big on Hearing Aids

By Blue Chip FInancial | Business
Hearing it All: Seniors Can Save Big on Hearing Aids

Many people who have hearing loss are familiar with the process of going to an audiologist for a hearing test, being fitted for hearing aids and then the incredible sticker shock that comes upon learning the price. Hearing aid pricing is one of the opaquest areas in health care and the prices of advanced hearing aids routinely exceed $4,000, which is enough to give almost anyone that sense of sticker shock. To make matters worse, Original Medicare and most Medicare Supplement plans do not provide hearing aid coverage, which means patients with these plans are responsible for 100 percent of these costs.

There is good news for Medicare recipients, however. Many Medicare Advantage plans offered by private insurance companies cover some or all of the cost of hearing aids. In fact, 88% of Medicare Advantage plans provide some hearing aid coverage in 2021. In the Capital Region, there are several Medicare Advantage plans that offer hearing aids for substantial discounts compared to their retail prices.

This year, there is even a Medicare Advantage plan available in our region that pays up to a maximum amount of $1,250 per ear, every year—up to $2,500 in hearing aid coverage for both ears every year. Hearing aids are purchased through a distributor that has been pre-approved to work with the plan’s members and, given the high costs of hearing aids, the benefit of this arrangement to members is substantial.

Many seniors are anxious about getting hearing aids—or simply go without—due to their high costs. However, given that so many Medicare Advantage plans help in obtaining hearing aids—including one plan in the capital region that pays up to $2,500 for two hearing aids every year—there is no excuse for Medicare recipients to not hear it all. To find out how you can obtain affordable hearing aids, please contact Bruce or Logan at BlueChip in Saratoga at 518-584-8057 or visit our website at www.1bluechip.com.

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