Saving Money...On Hearing Aids?

Welcome to Saving Money with Andrew!

I don’t have hearing problems, but have plenty of relatives who do. And thus I was inexorably drawn to the expensive and confusing world of hearing aids, so that I could bother them with unsolicited advice.

Hearing aids are *really* expensive. Like eyeglasses, they are often sold with massive markups through specialty providers, with significant information asymmetry. Most insurance provides minimal coverage, and Medicare does not cover hearing aids at all. So I was pleased to learn that last August, the FDA had authorized the OTC (over-the-counter, or non-prescription) sale of many hearing aids.

My father suffers from moderate hearing loss, and his last pair of hearing aids cost over $7000 over five years ago and are reaching the end of their useful life. So we began to research various OTC models. I started with the Wirecutter’s reviews (a great and usually trustworthy starting point), and focused on price point, features and, most importantly, an unconditional return policy.

We settled on a pair of Eargo 7’s for $2650 on Amazon (which include a 30 day return policy), just over one-third the price of the previous pair. A few days later, they showed up, and after an easy guided setup with the smartphone app, they were ready to go. He’s very happy with them!

For those looking for a lower price point, there are plenty of more affordable, but still well-reviewed, models mentioned in the Wirecutter article too.

And finally, as lame as it may sound, do your best to protect your hearing and prevent hearing loss! Last year I attended an amazing Billy Joel concert (still got it at 73 years old) and was very thankful to have brought a pair of Earpeace concert earplugs. They didn’t reduce my enjoyment at all, and I left the concert without the typical aftereffects from when I normally go to loud concerts.

And now, Andrew’s pick(s) of the week:

BuzzFeed News is closing down. BuzzFeed is responsible for many of the laziest and worst journalistic trends since its founding in 2006. But in between it had some great pieces, including this absolute masterpiece from 2014: How Madewell Bought And Sold My Family’s History

How Much Can Duolingo Teach Us? - Great profile of the founder of Duolingo

[Those] who have actually won a “lifetime” supply of something, what was the supply you won and how long did it actually last?

I hope this has been helpful. If you liked it, please share it on social media! Also, please send me your feedback, requests, and success stories.