Why Hearing Aids Are So Expensive And How That's Changing

An estimated 37 to 48 million Americans have some form of hearing difficulty. Despite that only 14% of people with hearing loss use a hearing aid. But an FDA ruling in the fall of 2022 allowing for the sale of over-the-counter hearing aids could improve access for millions.

The new devices for adults with mild to moderate hearing loss cost as little as $199 and are sold at retailers like Best Buy, CVS and Walmart. Starkey, which got its start in 1967 and has produced tens of millions of hearing aids, said it has plans for an over-the-counter offering too.

So why are hearing aids so costly and what impact will over-the-counter devices have on people with impaired hearing?

To better understand how the devices are made CNBC got a behind the scenes look inside one of the world’s largest hearing aid manufacturers.

Watch the video to learn more.

Chapters:
0:00-2:07 Introduction
2:08-5:14 Hearing Loss
5:15-7:45 The cost of hearing aids
7:46-10:24 New technologies
10:25-13:09 Over-the-counter hearing aids

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Why Hearing Aids Are So Expensive And How That's Changing