Lower-cost U.S. hearing aids go on sale Monday
Reuters
Published Oct 17, 2022 05:05AM ET
Updated Oct 18, 2022 09:25PM ET
By David Shepardson
WASHINGTON (Reuters) - Major U.S. retailers will begin selling lower-cost hearing aids without a prescription or medical exam under final Biden administration rules that take effect Monday.
The Food and Drug Administration (FDA) in August approved the sale of over-the-counter hearing aids, allowing millions of Americans to buy hearing aids without seeing an audiologist and potentially saving individuals thousands of dollars.
The rules apply to hearing aids for people with mild to moderate hearing loss. The aids will be available directly from stores or online without medical exams, a prescription or audiologist fitting adjustment.
The White House touted announcements of major retailers that they would begin offering the lower-priced hearing aids including from Walgreens and Walmart (NYSE:WMT) starting on Monday. CVS will start selling lower-cost hearing aids online Monday and in some stores in November, the White House said.
Best Buy will start selling lower-priced hearing aids online this week and in stores by the end of October, the White House added.
White House National Economic Council director Brian Deese said in August the government estimated the rule will save consumers about $2,800 per pair of hearing aids and could help "tens of millions of Americans."
In 2017, Congress passed legislation requiring the FDA to create a category of over-the-counter hearing aids, but it was not fully implemented. In June 2021, President Joe Biden signed a broad competition executive order that instructed the Health and Human Services Department to "promote the wide availability of low-cost hearing aids."
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.