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Hearing aids are covered by insurance, so there is no cost pressure to bring the cost down. Contact lenses are one of the only medical devices where their pric
by danschumann 9y ago
Hearing aids are covered by insurance, so there is no cost pressure to bring the cost down. Contact lenses are one of the only medical devices where their price went down in the last few decades. This is because people pay out of pocket. It's the same concept behind rising tuition. If people don't see the cost directly come out of their own pocket (either through insurance or student loans), they don't complain about cost as much, and it sky-rockets.
- vec 9y agoHearing aids aren't actually covered by insurance nearly as often as one would expect. The majority of patients pay out of pocket already.
- pkaye 9y agoWhich country are you from? In the US, hearing aids are not covered by most health insurance (much like glasses.) In fact I think it is explicitly written in the Medicare laws that they are not covered. So I don't think the rest of your thesis applies.