Hearing Aid Insurance
Does Insurance Cover Hearing Aids?
This is a question we hear often, and it doesn’t always have a short Yes or No answer. Every insurance company is different and furthermore, every plan an insurance company offers is different as well. Hearing Group is also coming across a number of instances where insurance companies that have never had a hearing aid benefit before now have some kind of hearing aid assistance. So even if you have been told there is no hearing aid benefit in years past, it may be a good idea to look into this again.
The most accurate way to find out your hearing aid benefit is to call and confirm directly with your insurance company. Hearing Group is so determined to find any assistance that might be available to you, that we even make the call to your insurance company for you! While your hearing test is being conducted, our team will reach out to your insurance company directly and find out exactly what your hearing aid benefit is, if you have one available.
Then, while you and your consultant are determining which brand of hearing aid is best for your particular loss, you will know how much financial assistance you have to work with! It’s that simple.
When researching insurance benefits, these are a few terms you will see frequently.
A deductible is an amount your insurance company requires you to pay before they will step in and help. Even after the deductible is paid in full, your insurance company has a set percentage that they will pay for you and then you are responsible to pay the remaining amount.
That remaining amount you are responsible for is known as coinsurance. For example, if your insurance company pays 70% after your deductible is met, then your coinsurance is the remaining 30%.
Another term you will hear often is copay or copayment. The copay is a set amount that you are required to pay for specific services such as a visit with your physician or a prescription.
Curious About Insurance Coverage for Your Hearing Aids?
Watch This Informative Video!
Blue Cross & GEHA
There are two insurance companies that we work with often, BCBS Federal and GEHA. Each of these has a $2,500 hearing aid benefit that can be used every three years and there is no restriction on brand or style of hearing aid with this benefit.
So if you have been researching Blue Cross Blue shield hearing aid coverage or GEHA hearing aid coverage in Kansas and Oklahoma, look no further. This is an incredible benefit! If you have either BCBS Federal or a GEHA insurance plan, get in touch with Hearing Group. We can get you into a pair of hearing aids, potentially at no cost to you!
Does Medicare cover hearing aids? Original Medicare alone does not have a hearing aid benefit. But, if any kind of Medicare Advantage Plan is in place (such as Aetna Medicare, AARP Medicare Complete from UnitedHealthCare and many others), then there often is some kind of hearing aid assistance. To ensure you do not miss out on potential help with hearing aid cost from your insurance company, it is still going to be best for you to bring your insurance cards to HG and allow our Hearing Group team to confirm benefits. Policies are always changing and we never want to see a client miss out on financial help because their specific policy was not confirmed.
Many people ask, “Does Medicaid cover hearing aids?” And the best answer is that it depends on the state. Currently, Hearing Group does not work with Medicaid in Kansas or Oklahoma. But if there is any kind of supplemental plan in place, there may be a hearing aid benefit. The best way to confirm if you have any kind of hearing aid assistance is to bring us your insurance cards and let our Hearing Group team confirm benefits directly through your insurance company.
Flexible Spending Accounts (FSA)
A Flexible Spending Account or FSA is an account where money is set aside to be spent on healthcare needs. The money in a FSA is not taxed but unlike a HSA, the money in this type of account does not roll over from year to year. So any money you have built up over the year must be spent within that year or you lose those funds. Hearing aids do qualify to be purchased using a Flexible Spending Account. If you would like to use your FSA funds for your hearing aid purchase, let your HG team know and they would be happy to process this for you!
Health Savings Account (HSA)
A Health Savings Account or HSA is a type of savings account that allows you to set aside money for healthcare needs. The money within a HSA is not taxed and the interest earned on that money is also not taxed. Money accumulated in your HSA can continue to build, as it carries over from year to year. Hearing aids qualify to be purchased with HSA funds. If you have a Health Savings Account and would be interested in using those funds for your hearing aid purchase, let your Hearing Group team know!
Financial Assistance Alternatives
Everyone deserves to hear better.
Hearing Group has worked hard to find ways to help as many people as we can through financing options, utilizing insurance benefits and our HG Subscription program. Here are a few alternatives we have found may be able to help as well:
- Discount Programs – These are becoming more common. Even insurance companies are often contracting with these discount programs to assist their customers
- The Department of Veterans Affairs – This is an option for any qualifying veteran
- Family – It is very common for loved ones to help pay for hearing instruments so that they can continue to carry on conversations with those they love
Other Links You Might Find Helpful
Hearing Group Subscription Program
Sometimes, financing just isn’t an option. Hearing Group has put together a program for those unable to make a full purchase but also do not qualify for any kind of financing. The purpose of the Hearing Group Subscription Program is to get you into a hearing solution at an affordable price. It is a month-to-month subscription program. You have several technology levels to choose from with a one time down payment and a monthly service fee and no credit check is required.
Hearing Aid Financing
Going without hearing aids may seem like something that only you will have to go without. But in reality, your friends, family, caretakers, co-workers, everyone you deal with on a daily basis are going to go without as well, every time they interact with you. Don’t let cost be the reason you cannot hear and others struggle to communicate with you. Hearing Group has great financing options that can help you make the dream of hearing again, a reality. Click here to read more about the financing options HG has to offer.