President Biden has taken several steps to reduce the cost of hearing aids, which have made them more affordable for consumers. Here are the key actions he has taken:
- Over-the-Counter Sales: Biden signed an executive order in July 2021 calling on the FDA to make hearing aids more easily available over the counter. This move has opened up the market to more consumers and increased competition, which can lead to lower prices1.
- Reduced Prescription Drug Costs: Biden supported efforts to lower prescription drug costs, including allowing Medicare to negotiate lower prices. While this specific policy might not directly affect hearing aids, it indicates a broader commitment to reducing healthcare costs, which can have indirect benefits for hearing aid prices2.
- Hearing Aid Discounts for Medicare Beneficiaries: The Biden administration has proposed covering hearing aids as an optional benefit under Medicare Part B. Although the details of this proposal are still evolving, if implemented, it could significantly reduce the out-of-pocket expenses for Medicare beneficiaries who need hearing aids3.
By implementing these policies, Biden has aimed to make hearing aids more accessible and affordable, especially for those with Medicare Parts A and B, who typically do not cover the purchase of hearing aids.
2/9/2025 01:58pm
