Private Health Insurance Companies
Some do Some Don't cover the cost of hearing aids. The ones that don't say hearing aids fall under the category of prosthetic devices. The Health Insurance Companies that do Cover Hearing Aids will vary in hearing aid coverage. Call your health plan to learn more coverage and any requirements.
for more information about VA Hearing Aid Coverage
, does not cover hearing aids. Medicare does cover certain medical expenses for people over the age of 65, the cost of the hearing aids are not covered under this program.
Some Medicare Advantage plans (e.g., AARP MedicareComplete) may cover hearing tests and hearing aids. Call your health plan to understand the hearing aid coverage and any requirements.
Health Benefits Program (FEHBP) provides hearing aid benefit to the dependent children of federal employees.
As of Jan.1, 2009, the Blue Cross/Blue Shield Federal Employee Program, or Teachers with Blue Cross Blue Shield MESSA, which covers more than half of all federal employees and retirees, began offering a hearing-aid benefit for adults ages 22 and over, up to $1,000 total per ear, including batteries, every three years. The Federal Employees Health Benefits Program
, which acts as a central exchange for BC/BS and some 270 other private health insurers covering federal employees, is encouraging participating insurers to add or enhance their hearing-aid coverage for adults this year. (Last year the FEHBP pushed for hearing benefits for children.) In spite of this initiative, the coverage is optional. So if you're a federal employee, check with your carrier to see what's covered.
Your union may have negotiated hearing-aid benefits. For example, in New York City the United Federation of Teachers
offers a supplemental plan for eligible members and dependents, for example, that pays up to $500 per aid, to be replaced no more frequently than every three years.
Medicaid covers hearing aids for children under age 21. Medicaid coverage for those aged 21 and older varies. Click here
for information on Medicaid programs by state.
Flexible Spending Accounts
Use a medical flexible spending account. Many employers let you contribute a portion of your pretax income to such plans. The proceeds can be used toward all manner of health-care costs, including hearing aids and batteries. A taxpayer in the 28-percent bracket who set aside $5,000 in such an account and used all of it for a $5,000 pair of hearing aids would reap an effective savings of $1,400. Flexible spending accounts are tax-advantaged accounts that can be used for medical expenses not covered by your insurance plan.
State Vocational Programs
Although if an adult has a hearing loss which substantially limits major life activities, some state-run vocational rehabilitation programs can provide upwards of full financial assistance.
Health Savings Account (HSA)
Health savings accounts are tax-advantaged accounts that can be used for medical expenses not covered by your insurance plan. By paying with pre-tax dollars in the HSA, a person in the 28% tax bracket will effectively save $280 for every $1000 spent on hearing aids.
Home Owners Insurance
Would homeowners insurance policy cover a lost hearing aid? A. The average (ok lets just same some) homeowners insurance policies may cover a lost hearing aid-MAY! But you first have to claim it as a valuable - it needs to be noted in your policy. An insurance company will more likely cover the hearing aid replacement if it has been listed on your policy. After that, a hearing aid would be considered personal property and the coverage would come from that section of the homeowners insurance policy. However, keep in mind that the loss would still be subject to the usual deductible on your policy. This means if the value of the hearing aid is not in excess of your deductible, you would not be entitled to any payment from your insurer. Additionally, the policy can only cover the lost hearing aid up to the personal property limit of liability specified on the policy. If the hearing aid's value is in excess of the limit, the limit is the most the policy will pay. Keep in mind that personal property coverage on your homeowners policy will extend beyond the boundaries of your home. In fact, most home insurance policies will cover your personal property anywhere in the world. Check Your Home Owners Policy before buying New Hearing Aids!
Affordable Care Act
Twenty-two states include some coverage for hearing aids and related services, of which 18 are included as state required benefits. The “benchmark plans” for each state covering hearing aids specify the minimum requirements for the qualified health plans that may be offered on the exchange in that state. This information is available online from HHS by visiting http://cciio.cms.gov/resources/data/ehb.html
“Hearing aids” are listed as standard health benefit number 36 on HHS’s benchmark plan format for each state. HHS appears to recognize that coverage for hearing aids should be considered a standard component of health insurance plans.
Click here to learn more about The Affordable Care Act and Hearing Aids
The IRS and Deductions
The IRS allows you to deduct hearing aids. If you itemize your taxes, medical costs exceeding 7.5% of your adjusted gross income can be deducted from your federal income taxes. Hearing loss expenses that may qualify include: hearing aids, hearing aid batteries, hearing aid repairs, and hearing aid maintenance costs. As well as telephone and television equipment that amplifies sounds or provides captioning and other home safety items such as special smoke detectors and alarms and their installation. There is an exemption to the 10 percent rule for the next few years which allows anyone 65 and older to claim medical expenses that total more than 7.5 percent of their adjusted gross income. People with hearing loss in the workforce can also deduct expenses for items necessary to perform their jobs - Learn More Here