Support the Hearing Aid Tax Credit Act
More than 50 million Americans have some level of hearing loss, including two-thirds of seniors aged 75 and older. Adults with untreated hearing loss are at a dramatically higher risk of social isolation, depression, anxiety, falls, and even early mortality.
Even though prescription hearing aids are a vital medical device, neither Medicare nor health insurance plans in most states cover their high cost, averaging $1,000 to $4,000 apiece.
Under existing law, taxpayers may deduct the cost of out-of-pocket medical expenses, such as hearing aids, to lower their taxable income. But this tends to benefit only a small percentage of high-income earners, leaving middle and low-income taxpayers out. The Hearing Aid Tax Credit Act (H.R. 7770), sponsored by Rep. Kevin Mullin (CA-15), would provide a tax credit of up to $1,000 to qualified taxpayers who purchase hearing aids.