Original Medicare Does Not Cover Hearing Aids;

Here are 6 Ways to Pay Less

There are a lot of things that Original Medicare (Parts A & B) does not cover, but hearing care is one of the most critical. Without this coverage, Medicare enrollees who need hearing aids could be forced to pay thousands of dollars out of pocket, just to keep one of their basic 5 senses working.

Is it fair? Nope. But it’s just one of the many injustices that we have to deal with in our current healthcare system.

Fortunately, there are ways to fight back. For this month’s newsletter, I asked the experts of our MediGap Advisors team to share their most effective strategies to save money on hearing aids. With a little planning and a touch of creativity, we think these tips will be saving our people a lot of money in 2022.

But first, a little background on Medicare and hearing coverage:

Q: Does Medicare Pay for Hearing Aids?

Original Medicare (Parts A & B) does not pay for hearing aids. Part B does include 80% coverage for diagnostic hearing exams if ordered by your medical provider.

Q: Does Medicare Advantage Pay for Hearing Aids?

While Original Medicare does not include coverage for hearing or hearing aids, most Medicare Advantage plans (Part C) have at least some level of coverage. Part C plans can be an effective way to bolster your overall protection, but they rarely cover everything.

Even with Medicare Advantage, enrollees could pay as much as $1,817 per hearing aid.

6 Ways to Pay Less for Hearing Aids in 2022

1.) Shop Around for the Best Prices

This is our #1 piece of advice when it comes to any medical costs. By taking the initiative to compare prices around town and on the web, you’re not only going to find better prices, but you’re also exercising your inherent healthcare freedom, and therefore, supporting a more transparent, honest, and competitive healthcare industry.

2.) Understand Your Purchase Arrangement, Through and Through

Buying hearing aids is way more complicated than it needs to be. Some purchases are outright, while others will put you on a monthly leasing or subscription plan. In some cases, it might be a better deal to own your hearing devices outright.
On the other hand, subscription-based hearing aids can include future replacements as software upgrades.
Other purchase details to consider:

• Is the cost of the hearing exam included with purchase? (If not, ask for it)
• Are there any follow-up exams included?
• What is the length of warranty on the hearing aid / how does it compare to other models?
• What is the return and refund policy?

3.) Switch to a Medicare Advantage Plan that Includes Hearing Coverage

Most Medicare Advantage, or Part C plans include at least some level of coverage for hearing aids. If you’re already enrolled in Medicare Advantage, see if your plan is one of them. If your plan doesn’t include coverage, your Personal Benefits manager can help get you into the plan that does.
But remember, even with Medicare Advantage, hearing aids are not free. That’s why it’s important to have some kind of contingency plan for hearing care, well before you need it.

4.) Use a Medical Savings Account (MSA) to Help Pay the Cost

Medicare enrollees who have the Medicare MSA Plan can use funds from their tax-advantaged Medical Savings Account to help offset the cost of hearing aids. This plan is a form of Medicare Advantage, and it’s possible to switch into it during Open Enrollment towards the end of every year.

5.) Research Local Charitable Organizations

If you’re still having trouble paying for hearing aids, there are usually some local organizations that can help. State aging agencies, Lions Clubs, or Kiwanis Clubs, for example, often distribute refurbished hearing aids for low or not cost.

6.) Stay Tuned for Cheaper Over-the-Counter (OTC) Hearing Aids

In some exciting news, OTC hearing aids have been approved by the FDA and are expected to hit shelves in 2022. If the free-market economy works as it should, the extra competition from OTC hearing devices should help lower costs across the board.

Need Help with Your Medicare?

We’re always here to help. Click over to our blog for an ongoing stream of helpful advice, guides, tutorials, and more.
If you need to make changes to your plan, click here to setup your no-cost appointment.

To your health and wealth,

Wiley P. Long, III
President – MediGap Advisors