$20,000 – or More – a Year? Just for Wearing a Hearing Aid?

Stack of new $100 bills

Have your friends, family, and co-workers been requesting that you invest in hearing aids but you’ve been stubbornly resisting? Are you thinking that your hearing loss is not that bad right now and purchasing a hearing aid isn’t worth it?

Even if you believe you’re doing ok at the moment, your hearing loss might catch up with you – and if that happens, it could potentially cost you upwards of $30,000 per year. Not only could you end up injuring yourself by dismissing your hearing loss, you could also cost yourself income and lost opportunities by missing important medical or work information.

Lost opportunities and unemployment

If you don’t hear everything you’re supposed to, it will ultimately effect your work performance. You could get passed up for future projects because you didn’t follow instructions on past work, or your relationship with co-workers may have deteriorated because you couldn’t hear them. You could wind up going unnoticed by people at every level if you become socially isolated at work. These “small” things add up over time and affect your ability to attain your highest earning potential. People who treat their hearing loss earn, on average, $20,000 more than individuals with neglected hearing loss according to a study carried out by the Better Hearing Institute.

Research also suggests that people with neglected hearing loss have an increased danger of being unemployed. Individuals who don’t address their hearing loss will be 15% more likely to be unemployed. Not getting treatment, therefore, could cost you a lot of money as the years go on.

Falls will cost you even more in medical expenses

You’ll have a higher likelihood of falling if you have neglected hearing loss which can deal you another financial setback. One study revealed that even those with slight untreated hearing loss increase their chance of falling by 300 percent. And, for every 10 dB increase in hearing loss, there is a 1.4-fold increase in falls. The vestibular system manages balance and researchers believe there may be a link between the degree of hearing loss and how it affects that system. Or, it might also be plausible that somebody with untreated hearing loss just gets disoriented in their environment because they’re overcompensating with their other senses. And obviously, those falls lead to more medical expenses, and consequently more money out of your pocket.

Increased general health issues

But that isn’t it. If you are unable to hear well, you might miss information from your physician. When it comes to your health, you could have worse outcomes if you miss details and that can lead to increased health costs. All of these incidents add up to a huge financial gap. Multiple studies have connected untreated hearing loss to considerably higher medical costs over time. In one study, it was revealed that these people will have a 40% increased chance of visits to the emergency room and over a ten year period, will pay out over $20,000. More recent research from the University of South Carolina revealed that untreated hearing loss resulted in a 33% increase in healthcare expenses over an 18 month time period.

Another study conducted by Johns Hopkins University suggested that individuals with untreated moderate to profound hearing loss had a considerably higher chance of death.

So, if you want to protect yourself both financially and physically, it’s time to get your hearing tested. Depending on the test results, you may have to get hearing aids. If you do, you’ll likely be fairly surprised. Hearing aids these days are state-of-the-art, very comfortable to wear, and sound clear. Take advantage of the available technology to improve your life in all respects.

References

https://publichealth.jhu.edu/2018/patients-with-untreated-hearing-loss-incur-higher-health-care-costs-over-time
https://www.utsouthwestern.edu/newsroom/articles/year-2022/july-hearing-loss-and-falls

The content of this blog is the intellectual property of MedPB.com and is reprinted here with permission. The site information is for educational and informational purposes only and does not constitute medical advice. To receive a hearing aid consultation, call today to schedule an appointment.