UnitedHealth Group is a for-profit managed healthcare company in Minnetonka, Minnesota. United Healthcare contributed 80% of its $242 billion revenue during 2019. This made it the largest healthcare company in terms of net sales.
We receive calls asking us does United Healthcare cover hearing aids, and decided to summarize the situation in this post. The answer is the health care company subsidizes them, although its Vision Plan members still pay $649 and upwards for a single hearing aid.
This benefit is available to over 35 million UnitedHealthcare Medicare, employer-sponsored, and individual plan participants that signed up for Vision Benefit plans. United Healthcare hearing aids compare with ‘similar aids that average $2,000 to $4,000 each’, according to the company. So this sounds like it is a good deal compared to most other sectors of the market.
You Pay What You Get For with a For-Profit Managed Healthcare Company
Value Penguin says United Health Care is ‘more expensive than average … however, plans will most often come with added benefits and access to wellness programs’. They have a bewildering number of different programs - too many to list here. However, we assure you it’s not worth joining them solely to qualify for United Healthcare hearing aids.
How the United Healthcare Subsidized Hearing Aid Scheme Works
The health care provider says hearing aids normally cost ‘thousands of dollars each’. These prices are generally unaffordable to many U.S. residents, including pensioners watching the value of their benefits steadily erode.
Therefore, the company created a hearing aid discount program. It’s available to members enrolled in its employer-sponsored, individual and Medicare Advantage plans, as well as Medicare Part D plans.
It says some of its United Healthcare Medicare plan members ‘may have no out-of-pocket expenses’. However reading between the lines it seems most will pay $649 and upwards for a single hearing aid.
The health provider delivers these benefits through its collaborator Hi Health Innovations, an Optum business and United Health Group company. However, retail customers may also ‘achieve significant savings through Hi HealthInnovations, which sells high-tech, custom-programmed hearing aids priced between $749 and $949 each’.
Possible Reasons Why United Health Group Entered this Market
Approximately 20% of all Americans aged 12 and older have hearing difficulties. This escalates to a third and more people of, or approaching retirement age. Five large hearing aid manufacturers control this market. We are not saying they are a cartel. However it’s obvious they are throttling supply by limiting the number of retail outlets.
This restricted availability has the effect of keeping prices buoyant. So buoyant that average Americans are paying several times more for their hearing aids than people in other countries, even after exchange rate adjustment.
It follows the company is profiting from its United Healthcare hearing aids. For if that were not the case, then why would it be in that market? UnitedHealth Group Incorporated employed approximately 320,000 people in 2020, and earned a net income of over $14 billion in 2019 so it is making good money.
Why Are Hearing Aids so Expensive in the United States?
United Health Care does cover hearing aids to an extent. However, for reasons we explained it is not in the business of giving them away. We do believe it does what it can to hold costs down on behalf of its member participants.
However, it is operating in one of the most expensive sectors of the economy where the big five manufacturers are slugging it out for market share. They spend a fortune marketing, and fitting out fancy hearing aid stores in shopping malls.
But this does not actually cost them a cent. That’s because they add these expenses to their prices. That means their consumers pay for an upmarket industry, when all they really need is affordable hearing aids.
Would you really want to pay more for United Healthcare hearing aids when you could purchase something similar for a fraction of the price? Drum roll for your next pair of hearing aids please.
What’s on Offer from Blue Angels Hearing Today?
Blue Angels Hearing cuts through all that baloney by avoiding the expenses associated with the rest of the industry. We open supply up, not throttle it, and we sell thousands of pairs of hearing aids every year.
These economies of scale keep our prices low and our sales booming. That’s our business model in a nut shell. It’s as simple as that. But how does our hearing aid quality shape up. Well many of our customers insist our quality is better and you can check out our reviews here.
They also love us because we sell pairs of quality, behind-the-ear digital hearing aids for a tad under $200 as we promise in that link. This includes all accessories and shipping costs. And if you don’t like what you get for a valid reason, you can ship them back under our 30 days money-back guarantee.