My hearing is very bad. I nearly missed a new job 20 years ago because, "you almost failed the hearing test".
Lots of shooting and loud music (without protection)in my youth are probably to blame. I'm avoiding any aids due to the cost. People are talking about 7-10 grand on this thread. I'm not going to pay that much to hear what other people have to say.
Four years ago I received my first pair of corrective lenses. Though it was amazing to see better than I probably every have...it's been nothing but ongoing costs and irritation. A new prescription gives me a lot of anxiety. They will never get it right on the first try, and it will be a month of not seeing correctly, IME.
Are hearing aids similar in this regard? Nothing but ongoing costs and problems?
How much do they really cost over 10 years?
Prescription hearing aids tend to start at $2000 or so and top out at ten grand. I suggest against both extremes.
Low end hearing aids don't work very well. They are fine for listening to one thing in an otherwise quiet environment, like watching TV by yourself, or conversing with one person. In any kind of a more demanding environment, results will be frustrating.
At the $10,000 level, somebody's making a lot of profit. Audiologists (as opposed to dispensaries at big box places) do have a lot of stuff to pay for (and usually bundle three years of "free" service into the upfront cost) so there is always going to be significant mark-up, but $10,000 is honestly a ridiculous price. Even the most expensive devices from top manufacturers don't cost the audiologist more than about $3000 for a pair.
At my practice we sell the top range of hearing aids for about $6000 a pair. We don't "bundle" service costs, though, and use a "pay as you go" model instead, which saves most people a pretty good chunk of change over the long term. That's very rare in this field though, and you can generally expect to add about $1500 to your initial cost, for the "free" service. Which means that the top models from the top manufacturers should be in the $7500 range.
What does the money buy you? The two big complaints from hearing aid users are background noise and sound quality. What we want is a device that sounds perfectly natural and amplifies only what you want to hear. Neither goal is ever going to be met perfectly, though the latter one is being approached by the best models, especially from the Oticon brand. And this is a case where you really do get what you pay for. Better models are noticeably, well, better.
Costco is a decent way to save money. They generally use dispensers instead of audiologists. Dispensers can be very good, but some are pretty bad too. Your odds of getting a competent audiologist are better than of finding a competent dispenser. Either, when competent, can do a very good job. Costco also skimps on programming the hearing aids, generally using the hearing aid manufacturer's "first fit" algorithms instead of more comprehensive approaches. (
Real
Ear
Measurement is the gold standard, actually measuring the output of the hearing aid while it is in your ear. It's a good idea to ask for it, if you're being fitted by an audiologist, and even to go somewhere else if it isn't being offered.) Essentially, Costco offers "good enough" at a relatively low price - though at my clinic we do brisk business "refitting" Costco hearing aids to maximize their performance.
Medicare, by the way, does not help with the cost of hearing aids. Any clinic which tells you they do is playing games with you.
https://www.medicare.gov/coverage/hearing-aids. (Note that some private insurers offer Medicare Advantage plans which do offer some benefits. Generally speaking, those benefits won't amount to much, which is also true of most private plans. I'd expect to have significant out-of-pocket costs.)
Also, the ten year cost of hearing aids is going to include another set of hearing aids. It's rare to get them to last that long. Most clinics tell you to replace them every three years, but I think that's a little greedy. Most of the time, five years is typical, and often that can be stretched to seven or so.