Better Hearing Institute’s MarkeTrak Study calculates that the failure of 25 million hearing impaired Americans to get help for their hearing loss costs their households $122 billion in lost income. This loss in income reduces federal tax revenues (IRS) by another $18.4 billion. An Australian economic consulting firm estimates a loss of income of about $8.6 billion per year. It was further reported the quality of life associated with loss of hearing costs $7.8 billion a year. The Danish Institute for Social Research estimates the annual cost to society of lost productivity caused by hearing loss totaled $46 million in the 50-64 year age bracket alone. The institute points out Denmark is the world leader in hearing aid use. These studies together help demonstrate that hearing loss and its lack of treatment are a major societal issue affecting the entire population.
|Assuming a conservative five-year life expectancy, take for instance:||The following daily averages reflect a very conservative cost for common, everyday services:|
|$7000 for hearing aids = $3.83/day||Eating out = $7.22/day|
|$5000 for hearing aids = $2.74/day||Entertainment = $6.54/day|
|$4000 for hearing aids = $2.19/day||Electricity = $8.72/day|
|$3000 for hearing aids = $1.64/day||Vehicle insurance = $6.41/day|
Depending on your perspective, hearing aids can be expensive. But, can you really afford not to?
(Source: Department of Labor Consumer Expenditure Survey 2005)