Siemens Joins the Hearing Industries Association on Capitol Hill to Promote the Hearing Aid Tax Credit Act
Siemens meets with members of Congress in support of the 31.5 million Americans with hearing loss
Hearing aids are currently not covered under Medicare, or under the vast majority of state mandated benefits. The financial responsibility of purchasing a hearing aid currently falls on the consumer, with 71.4 percent of all purchases involving no third party payment.(1) The potential hearing aid market in
“The proposed tax credit would have a significant impact on the affordability of hearing instruments, therefore stimulating the hearing aid market,” said Dr.
“This incentive would allow people living with hearing loss to now seek help for this condition. The Tax Credit could provide an opportunity to improve the quality of life of millions of Americans,” said Powers.
Siemens executives will meet with Members of Congress to discuss the impact this tax credit would have on the hearing impaired community, both personally and professionally. It is estimated that 95 percent of individuals with hearing loss could be successfully treated with hearing aids, while only 22-23 percent currently use them.(2)
“This legislation affects more than just the 31.5 million Americans with hearing loss – it touches the lives of their friends, family members, and co-workers,” said
The Siemens Healthcare Sector is one of the world’s largest suppliers to the healthcare industry. The company is a renowned medical solutions provider with core competence and innovative strength in diagnostic and therapeutic technologies as well as in knowledge engineering, including information technology and system integration. With its laboratory diagnostics acquisitions, Siemens Healthcare is the first integrated healthcare company, bringing together imaging and lab diagnostics, therapy, and healthcare information technology solutions, supplemented by consulting and support services. Siemens Healthcare delivers solutions across the entire continuum of care – from prevention and early detection, to diagnosis, therapy and care. Additionally, Siemens Healthcare is the global market leader in innovative hearing instruments. The company employs around 49,000 people worldwide and operates in 130 countries. In the fiscal year 2008 (
(1) Hearing Industries Association, 2009 (2) MarkeTrak Report, 2009.
SOURCE Siemens Hearing Instruments, Inc.