Financing for Your Hearing Aids
A full transcript is included below
Financing for your hearing aids and hearing care. That’s our topic today on Ask the Hearing Doctors.
Hi, I’m Jim Cuddy, and this is Ask the Hearing Doctors. And I’m joined today by Dr. Ana Anzola, doctor of audiology with Hearing Doctors. The Washington D.C. area’s highest-rated audiology practice with over 1,500 5-star reviews. Ana, great to see you, as always.
Great to see you.
So, depending upon somebody’s situation, what their hearing aid needs are, it can be very, very expensive. Fortunately, there are programs that exist to help with those costs namely, what we’re going to talk about today is CareCredit. Tell us what CareCredit is. How does it work?
Yeah, so it’s one of my favorite programs that we have here available for anybody to take advantage even if you can afford it. But it’s so easy. It’s an interest-free health credit card. Really. That’s what it is. Like a Visa but for anything that’s medically related. In this case, hearing services, but it could be used for your eyes or your teeth or anywhere else.
So, any health issues that you may have, you can use the CareCredit with?
Yeah, and I even use it for my dog.
Yes. It’s so cool.
So, everybody in the family can get it.
Everybody can benefit.
Right. Yeah, exactly. All right. So, how does CareCredit, how is that different from, say, my other bank cards?
So interest-free, right? And so there’s a program that we do here. It’s twelve months interest-free, but they do have another program. The APR is a little high, so I don’t recommend it too much. But you have two years, three, four, and five.
How do I qualify for CareCredit? Is that going to be different from what I’m accustomed to with, say, other bank cards?
No. Our patient care coordinators here, they’re prepared to find out if you have good if you have good credit, they’re prepared to take care of it within seconds.
And how do I apply? Is there somebody that can kind of help me out with that paperwork, that sort of thing?
Yeah, exactly. Like I said, the patient care coordinators are prepared to find out if you have some good credit and they’ll give you a line of credit and you don’t have to use it all towards the purchase of hearing aids. You can use partial. So, if you have, say, $4,000 and you want to make a deposit on your own and you want to use maybe the remaining, you can absolutely do that.
Can I also just pay some out of my pocket and use the CareCredit?
Yeah. So, if the hearing aids were, say, $5,000 or $2,000, whatever the case may be, you can certainly use it all and have a program that is interest-free as long as you’re paying monthly payments and you don’t let it go beyond that twelve-month mark because they will go all the way back to day one. Yes. They’re in the banking industry.
So we want to make sure that we have those discussions. The patients can set up a program where it’s debited from their bank, or they can just make a monthly payment plan.
All right. Now, when will I receive that first CareCredit bill?
Right. So the day that the patients take delivery of the product, this is when we process that CareCredit line. And they will pay us within a week or two, but the patients will start receiving a statement within 14 days, and they have up to 30 days.
So, there is a solution for your ears when you go visit your audiologist.
And now there’s a solution if it’s not an affordable option for you to make it affordable.
Yeah. I mean, the number one reason I think that most people end up not taking action towards better hearing is affordability. So now we make it very affordable for our patients to take action now.
And there’s so much that you miss if you don’t hear properly in life. It’s worth the money however you can swing it.
Okay, Ana, thank you so much for your help.
Thank you so much.
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