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Utah: 435-688-8991 Nevada: 702-896-0031

Hear This: You Can Use Your FSA or HSA To Buy Hearing Aids

To assist in halting progressive hearing loss and to help you reconnect with the world of sounds around you, using hearing aids is a must. However, depending on what hearing aids you are interested in, they can be quite expensive.

In some cases, hearing aid costs can be partially—or completely—absorbed by your insurance provider, though it is not common for hearing aids to be covered. Also, here at Hearing & Balance Doctors, we also provide financing options to help you afford the hearing aids you need.

But what many of our patients are surprised by is that they can also use their Health Saving Account (HSA) or Flexible Spending Account (FSA) to help buy their hearing aids.

How To Use HSA Or Other Health Saving Accounts On Hearing Aids

When it comes to using an FSA or HSA, many people think they can only use it on medical procedures. But, hearing aids are classified as medical devices and are considered a qualified expense for many of the health savings accounts. However, not all of these accounts list hearing aids as a qualified expense, so it is best that you contact your provider. Below is an overview of the different health account plans—and whether or not hearing aids are an eligible expense.

  • Health Savings Account (HSA) – Eligible
  • Flexible Spending Account (FSA) – Eligible
  • Dependent Care FSA (DCFSA) – Not Eligible
  • Limited Care FSA (LCFSA) – Not Eligible
  • Health Reimbursement Account (HRA) – Eligible

Also, if you don’t choose rechargeable hearing aids, you can also use your eligible HSA or FSA to purchase a supply of hearing aid batteries from our doctors of audiology. As batteries can last anywhere from 3 days to 2 weeks, depending on their size, it is important that you have fresh hearing aid batteries on hand to keep your hearing aids fully powered.

When Should You Use These Accounts For Hearing Aids

Frankly, you can use your FSA or HSA whenever you need to buy hearing aids, as that is why you have them. But, there are some times which may be more ideal than others, at least, if you have an FSA.

While an HSA will roll over every year and allow you to maintain the same balance, that is not the case with an FSA. With a Flexible Spending Account, one of two things will happen:

  1. Your employer’s FSA plan allows for a two-month grace period where you can still use your funds after January 1st.
  2. OR

  3. About $500 of last year’s FSA funds will roll over into the next year’s funds.

So, as the end of the year approaches, you may want to come in for your annual hearing evaluation to check for hearing loss. That way, if you do have hearing loss, you can get that taken care of with your FSA or HSA before the busy holiday season.

Benefits Of Using FSA Or HSA To Purchase Hearing Aids

There are some pretty clear benefits to using your FSA or HSA to help purchase your hearing aids. Three of the top benefits are:

Skip Paying Taxes On Funds

Since contributions to your HSA and FSA come directly out of your pay pre-tax, you normally will have to pay taxes on the money if you withdraw it for use.

However, you can pay for your hearing aids—and hearing aid batteries—directly from an FSA or HSA, which means you can bypass paying any taxes on your saved up money.

Fully Utilize Your FSA

As FSAs do not carry over into the next year, it makes sense to completely utilize the account by purchasing your needed hearing aids, rather than have the money just disappear.

Purchase Hearing Aids Sooner

Many people delay purchasing hearing aids due to the expense. But with an HSA or FSA at your disposal, you don’t need to wait anymore. Also, the sooner you receive the hearing aids you need, the better quality of life you can enjoy.

To work with our doctors of audiology to find and purchase your ideal hearing aids, please contact us today to start your hearing journey.

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