If you’re experiencing hearing loss, there are several nonsurgical or surgical options for different types of hearing loss. Among the most popular non-surgical treatment options are hearing devices. A surgical option is a cochlear implant, a surgically implanted electronic hearing device which consists of two components, an external microphone, sound processor and transmitter system and an implanted received and electrode system that stimulates the cochlea. Cochlear implants work differently than hearing aids.1 Hearing aids help by increasing sound. Cochlear implants are designed for babies, children and adults with more severe hearing loss and can make the volume better and speech understanding more clearly. A cochlear implant is a small, electronic device that when surgically placed under the skin, stimulates the nerve endings in the cochlea to provide a sense of sound to a person who is profoundly deaf or severely hard of hearing. Below we dive into the cost of cochlear implants, if insurance covers cochlear implants and how financing can help.
How much does a cochlear implant cost?
The average cost of cochlear implants is between $30,000 and $50,0002 depending upon the device, the individual’s specific hearing needs, surgical fees and other factors.
Does insurance cover cochlear implants?
Cochlear implants may be covered by Medicare, the majority of insurance plans and Medicaid, depending upon your insurance and your states1 specific guidelines3. Prior authorization from the insurance company is required before surgery to ensure the costs are covered. Patients may still be responsible for co-pays, coinsurance and deductibles.
How can I pay for cochlear implants?
Most audiologists expect payment at the time treatment or surgery is to be performed. Few audiologists extend credit to clients through their practice where clients would receive bills from their audiologist and pay them directly. But almost all accept general purpose credit cards and many accept the CareCredit credit card, which may be a convenient way to pay for the procedure.
Can I use my CareCredit credit card to pay for cochlear implants?
Yes. If approved, you can use your CareCredit credit card at locations within the CareCredit network to finance out of pocket costs for cochlear implants, copays, coinsurance and deductibles and any other hearing health needs. The benefit of using a CareCredit credit card is the opportunity to use promotional financing.* If approved, you can pay for the care you need immediately. You can also use your CareCredit card again and again to pay for other health, wellness and hearing care needs. Use the Acceptance Locator or download the CareCredit Mobile App to find a nearby audiologist that accepts the CareCredit credit card.