US Market: moves for less expensive hearing aids

The article estimates that the average price of hearing aids is USD 2,500, putting these devices well beyond the reach of many people, especially retired people on fixed incomes. The US Medicare social insurance program, which provides health insurance to people aged 65 and older who have worked and paid into the system, does not cover the cost of hearing aids.

But recent developments show that the lines are beginning to move. Late last year, the President’s Council of Advisors on Science and Technology (PCAST) called for federal action to “simultaneously decrease the cost of hearing aids, spur technology innovation, and increase consumer choice options.”

This year will see some major initiatives in the area. In April, the US Food and Drug Administration (FDA) will host a public workshop to consider whether its hearing aid regulations may be obstacles to innovation, competition, and reasonable pricing. In June, the Institute of Medicine is to issue a report on hearing health and one of the concerns will be the price of hearing health care. Sponsors of this work include the Centers for Disease Control and Prevention (CDC) and the National Institute on Aging.

According to the article, what is driving this new focus on hearing health is not only shifting demographics with a larger elderly population but also the growing body of evidence from research showing that hearing loss is not just a normal part of aging, but in fact has wide-ranging health effects that extend far beyond simply missing out on parts of a conversation.

Source: The New York Times