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Hearing Aids: HSA Eligibility
Hearing Aids: eligible with a Health Savings Account (HSA)HSA Eligible Hearing Aids
What are hearing aids?
A hearing aid is a small electronic device that you wear in or behind your ear. It makes some sounds louder so that a person with hearing loss can listen, communicate, and participate more fully in daily activities. A hearing aid can help people hear more in both quiet and noisy situations. However, only about one out of five people who would benefit from a hearing aid actually uses one.
How do hearing aids work?
A hearing aid has three basic parts: a microphone, amplifier, and speaker. The hearing aid receives sound through a microphone, which converts the sound waves to electrical signals and sends them to an amplifier. The amplifier increases the power of the signals and then sends them to the ear through a speaker. (National Institutes of Health)
Although the majority of traditional hearing aids have been obtained through a prescription, the FSA announced in 2022 that hearing aids can be purchased over the counter. According to IRS Publication 502 (Medical and Dental Expenses), “the cost of a hearing aid and batteries, repairs, and maintenance needed to operate it” all count toward your medical expense deduction.
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