The Financial Burden of Hearing Loss

Hearing loss affects approximately eleven percent of the U.S. population, yet it is one of financial lossthe most unaddressed health conditions in our society. It has been proven that individuals with untreated hearing loss experience a reduction in overall quality of life. Depression, anxiety, social paranoia, social isolation, emotional stability, cognitive functioning and medical health issues are common concerns when hearing loss goes untreated. Now, new research has emerged which found that not only is quality of life affected but financial compensation as well.

A national study conducted by the Better Hearing Institute discovered that people with untreated hearing loss, lost as much as $30,000 in income annually. The amount of lost income was directly proportional to the severity of their hearing loss; the more severe the loss, the more income they lost. Effective communication is imperative in a working environment and being able to hear properly is critical to good communication. When an individual delays treatment of their hearing loss, whether it is fear of stigmatization on the job or for some other reason, they suffer in the form of lost wages, lost opportunities, lost promotions and a lower retirement income.

In conjunction to personal financial loss, the cost to society is estimated at around $26 billion dollars in unrealized federal taxes. There are more than 20 million hearing impaired individuals still in the workforce today and of that, only forty percent wear some type of hearing aid or assistive listening device.  The good news is that when a hearing impaired individual seeks treatment, these numbers are reversed almost completely. It just doesn’t pay to let your hearing loss go untreated!

It is a relatively quick and certainly painless process to have your hearing checked by an audiologist. They are experts in determining what type of hearing loss you have, or don’t have, and can come up with a personalized treatment plan to get you back on the road to better hearing. The financial burden of hearing loss is just too great to let it go untreated, so make an appointment to have your hearing tested right away if you suspect you might be suffering from hearing loss.

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