TruHearing and Fidelity Security Life Insurance Company have partnered to create a hearing insurance plan. This will allow benefits professionals to offer hearing benefits as an additional offering similar to vision and dental. TruHearing’s strategic partnership with Fidelity Security Life Insurance Companysup>(r) will allow for increased access to hearing benefits for employees, unions, and public sector groups. It also raises awareness about the importance of hearing care. The plan offers health insurance coverage through fixed indemnity benefits that cover hearing exams and hearing aids. The premium can be paid by an employee or the employer. You can either use it as a standalone benefit or combine it with other benefits.
Tommy Macdonald CEO of TruHearing stated, “We want hearing insurance as accessible as vision or dental benefits because, for those who require it, hearing loss treatment can be just as important.” “Cost is the biggest barrier to hearing care [1]” Offering hearing insurance can help employees avoid costly and time-consuming delays, as well as making it easier for them to get the care they need.
According to the American Speech-Language-Hearing Association (ASHA), more than half (51%) of adults reported having hearing problems, but only 11% of them have sought treatment.[2] With this insured offering, the hearing exam is completely covered through TruHearing’s referral network, and employees have access to makes and models of hearing aids by all major manufacturers at highly discounted* rates. People who do not see a TruHearing provider may not be fully covered. Benefit plan decision-makers can choose from coverage levels up to $1,200/ear.
TruHearing offers extensive support for both employees and employers during the entire process. Every participant in an insurance plan is assigned a Hearing Consultant, who will help them find the best hearing care provider. To assist participants with additional needs, Hearing Consultants will provide their name and phone number. Employers get comprehensive administrative support, including seamless onboarding and marketing materials for employees, such as benefit summaries or open enrollment materials.
Macdonald stated that offering hearing benefits is not only the right thing to make, but can also help employers save money by increasing employee productivity, and reducing healthcare costs. Untreated hearing loss can have a negative impact on mental health 3. Research has shown that individuals with hearing aids 4 may have a lower risk of anxiety and depression than those without them 4.
For more information, visit https://www.truhearing.com/for-health-plans-benefit-administrators/.
Related Coverage
- USAble Mutual launches innovative health coverage option for Georgia consumers
- Small Business Health Insurance
- Ambetter from Arkansas Health & Wellness Offers Health Insurance Across Arkansas
For more reporting on this topic, see our Health Insurance Coverage news hub.