Issue link: https://viewer.e-digitaledition.com/i/1462307
I N 2 0 17, C O N G R E S S pa s s e d t he bipartisan Over-the-Counter Hearing Aid Act requiring the FDA to "categorize certain hearing aids as over-the-counter hea r i n g a id s a nd i ssue reg u lat ion s regarding those hearing aids." However, the regulations had stalled until fa ll 2021, when the FDA f ina lly proposed a new rule to allow for hearing aids without a prescription. Given that most hearing aids aren't covered by insurance, this action has long been welcomed by consumers. However, a recent survey by the American Speech- Language-Hearing Association shows that most consumers won't be ditching their ENTs or audiologists for testing or advice anytime soon. According to the resea rch, 87% of sur vey pa r ticipa nts — a ll adults over 40 — sa id they would wa nt to have a me d ic a l d i a g nosi s b efore buy i n g a hea ring aid, a nd 83% said they would want to find out which kind of hearing aid technolog y would be most appropriate for their hearing loss. These gaps in knowledge, combined w ith a li kely f lood of OTC products, mean physicians should expect a lot of questions in the coming months. n Are Now in the Budget BY CARI WADE GERVIN AF TER FOUR YE ARS OF INACTION, THE FDA IS FINALIZING A RULE TO ALLOW HE ARING AIDS WITHOUT A PRESCRIPTION. OTC Hearing Aids Rao Wealth Partners is an independent firm with securities offered through Summit Brokerage Services, Inc., member FINRA and SIPC. Advisory services are offered through Summit Financial Group, Inc., a registered investment advisor. Summit is an independent broker-dealer with client assets held at First Clearing, LLC (a wholly owned Wells Fargo subsidiary). Summit and its affiliates are under separate ownership from any other named entity. You can name every bone in the body, but you can't name a single investment in your retirement account. It's time for a change. (212) 257-5794 www.raowp.com Individual Stock Selection | Corporate Retirement Accounts | Educational Savings Plans M D N E W S . C O M /// M D N E W S L O N G I S L A N D ■ 2 0 2 2 F I N A N C E ❰❰❰❰❰ 1 7