Hearing loss affects millions upon millions of people across the United States every year. It’s considered one of the most widespread disabilities in the general population, and it presents a multitude of hurdles for those who suffer from it. One of those hurdles is the extremely high cost of acquiring hearing aids.
For many, this cost is so high that it prevents them from ever accessing the life-changing medical devices at all. Thankfully, there are ways to claim your hearing aids as a tax-deductible expense. Let’s take a deeper look at that process.
Hearing Loss
Studies show that over thirty million people above the age of twelve across the United States suffer from some form of bilateral hearing loss. It’s staggering to consider that this figure only includes one demographic and doesn’t account for those under twelve, or those with single-sided hearing loss.
Hearing loss is one of the most widespread disabilities simply because no one is immune to suffering from it. As humans, we put our ears through constant work, and naturally, as we age, the sensory organ begins to degrade. But daily life itself can bring a tremendous amount of factors that can speed that process along.
Not protecting your ears from loud, chronic noise can lead to a degradation of the body’s natural ability to hear. Trauma can damage the organs of hearing and affect both your ability to hear and your overall sense of balance. Genetic factors can also play a part in passing on hearing loss, and it doesn’t always manifest at birth, or even in childhood.
All told, there are a multitude of ways to develop or contract hearing loss, and its effects are felt across the general population.
What to do if you have hearing loss
As someone with hearing loss, a brand new world of challenges automatically opens up for you. Living with a disability is a journey of learning in and of itself, but learning how to get treatment and what equipment to choose can be intimidating.
What are your options for hearing aids
For many people with moderate to severe hearing loss, hearing aids are one of the best treatment options. These devices are remarkable and have been at the cutting edge of medical technology since their inception. They are designed to aid someone experiencing hearing loss by amplifying certain sound waves up to a decibel level that is perceptible.
When you lose your hearing, your natural decibel threshold moves to an abnormal level. Let’s expand on that a little.
Someone with normal hearing perceives sound frequencies within their normal decibel ranges. Decibel is a measurement of the power or strength of a sound wave. Think about the difference between a soft-spoken friend, whom you always have to listen intently to understand, versus the roar of a Harley Davidson as it passes down the street. Both sources put out sound waves of their own specific frequencies; however, they have different strengths and power levels. This is what is referred to as a decibel.
When you lose your hearing, the sound waves that you previously understood at their normal decibel level now have to be more powerful, because your decibel threshold has risen. When you look to buy hearing aids, you are looking for devices that can do just that. The goal of a hearing aid is to pick up the sound waves that you can no longer perceive and elevate them to a decibel threshold that you do perceive.
Buying hearing aids can be intimidating. There are many styles and recommendations, and at times it feels like there are almost too many options. For many people, however, the big question comes down to whether they want prescription hearing aids or over-the-counter hearing aids.
Over-the-counter hearing aids
Over-the-counter hearing aids are a great option for anyone who doesn’t want to break the bank. Generally, these hearing aids are not FDA-approved, and you cannot use your prescription, if you have one, to get them custom programmed to your exact needs.
We’ve worked hard to create an industry-leading over-the-counter hearing aid that excels in quality and performance. Our one-size-fits-most devices are not guaranteed to fit every ear; however, they come with a customer satisfaction guarantee and are designed to accompany you on your hearing loss journey. Not only do we guarantee our products, but we have hundreds of satisfied customers worldwide who attest to the impact our EV1s and EV3s have had on their lives. Currently the smallest in-ear hearing aids sold on the market, they combine a comfortable fit with cutting-edge technology that helps you filter out background noise and hear what you want to hear.
Prescription hearing aids
Prescription hearing aids, on the other hand, are expensive. These devices can run into the thousands of dollars, due to the doctor and specialist appointments necessary to get your custom prescription. The upside is that with a custom prescription, you get hearing aids that are programmed specifically to your exact needs. The hurdle, for many, is that Medicare/Medicaid and many private insurance providers do not cover any of the exorbitant costs of this journey.
Between the expensive hearing tests and the cost of specialists, hearing aids are an investment of thousands of dollars for someone who needs them. While certain specific qualifications allow for some people to receive financial assistance through social security, the disability largely goes unsupported financially for most people.
Thankfully, you can claim certain hearing aid expenses as tax-deductible, easing some of the financial burden.
Hearing Aids are tax deductible
Being able to deduct your hearing aids and their cost from your taxable income at the end of the year might not be the financial assistance that you were hoping for from an insurer, but it is something!
By using a Schedule A (Form 1040) form, you can itemize your medical expenses and claim your hearing aids on your tax returns. Generally speaking, medical expenses can be deducted at the end of the year as long as they meet or exceed 7.5% of your annual income.
Not only can you deduct the cost of your hearing aids, but also the doctor appointments, audiologist appointments, and the cost of tests. The official IRS website can guide you in what medical expenses are deductible; however, when in doubt, consult a tax professional.
For a person with an annual income of forty-five thousand dollars, being able to deduct their medical expenses would require them to show over three thousand three hundred seventy-five dollars in medical expenses.
Other deductible and non-eligible expenses
Assuming you are among the millions who have had to pay exorbitant prices for much-needed hearing technology that was not covered by financial assistance or private insurance. In that case, a tax break is a welcome relief. And it’s not limited to just your hearing aids.
You should always consult with a tax professional to ensure you know the full scope of what medical expenses you can claim. However, the IRS lists other services related to hearing loss that are eligible.
For example, the maintenance of hearing aids —batteries, cleaning, or repairs— can be counted toward deductible expenses. Furthermore, since hearing loss is a disability and its treatment is deductible, so are some complementary pieces of equipment that help you lead a normal life despite hearing loss. This would include, for instance, modifying your phone to amplify sound to a perceptible decibel level, or even the repair costs of these devices.
The government also allows for the expenses related to training a service animal meant to assist you with your disability. Not only the cost of the animal itself, but the training, grooming, and upkeep fees as well.
You are not alone
If hearing loss is new to you, know that you are not alone. The extremely high prices of prescription hearing aids are intimidating for anyone considering buying them; however, some tax benefits can help. It’s good to remember that prescription hearing aids are not the only option on the market.
We are committed to providing affordable, high-quality over-the-counter hearing aids to the market as a viable option for anyone experiencing hearing loss.
“CLARIA hearing aids can be a great, inexpensive, and easy-to-use option.” – Drew Sutton, MD, Board-Certified Otolaryngologist
Source:
Are Hearing Aids Tax Deductible? |caring.com
IRS: About Schedule A (Form 1040), Itemized Deductions| irs.gov
IRS Topic No. 502 Medical and Dental Expenses|irs.gov |irs.gov
Quick Statistics About Hearing | NIDCD| midcd.nih.gov
What Noises Cause Hearing Loss? | cdc.gov
