First of low-cost hearing-aid solutions hitting the market

SAN LEANDRO, Calif.  — On Wednesday iHear Medical, announced a deal to provide low-cost hearing aid solutions to members of Ameritas, a highly regarded insurance, employee benefits and financial services company that manages $35.6 billion in total assets.



All told, about 20% of Americans, or 48 million, report some degree of hearing loss, according to the Hearing Loss Association of America. And while one out of three baby boomers have some sort of hearing loss, about 2-3 of every 1,000 children in the United States are born with a detectable hearing loss in one or both ears. In fact, almost 15% of school-age children (ages 6-19) have some degree of hearing loss.



"Millions of people suffer from hearing loss. It can affect a person's overall quality of life and relationships with others," stated Karen Gustin, Ameritas group division EVP. "We look forward to our partnership with iHear to make hearing aids more accessible and affordable for our customers and people nationwide."



The partnership with Ameritas offers next generation invisible hearing solutions at a fraction of the cost. Coming just one week following the Food and Drug Administration's announcement that the agency intends to make hearing aids available OTC, this offering is intended to break through persisting barriers preventing people from obtaining clinically effective hearing solutions, including overpricing of hearing aids, the stigma of wearing visible hearing devices and the cumbersome process of accessing hearing care through traditional channels.



iHEAR's offerings include the iHEARHD and iHEARMAX invisible hearing aids, and the iHEARTEST, the first and only FDA-cleared home hearing screener, according to the company.  iHEAR's advanced hearing solutions are offered at $299 before reimbursement, compared with programmable hearing aids available at hearing centers costing $2,400 on average for a single hearing aid, and often more than $6,000 for a pair.



iHear products combine high quality sound and online self-programming, and are backed by a 45-day satisfaction guarantee, professional support and remote programming by licensed hearing professionals.



iHEAR products are available directly to Ameritas customers from the iHEAR online store at www.ihearmedical.com.