$INND InnerScope Hearing Technologies Inc. Launches Two eCommerce Direct-to-Consumer Stores Solely Dedicated for the Millions of FSA & HSA Accounts Holders to Purchased Hearing AidsPress Release | 11/28/2018
ROSEVILLE, Calif., Nov. 28, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB:INND), a manufacturer and direct-to-consumer distributor of hearing aids and related hearing products, announces the launching of www.FSAHearingAid.com and www.HSAHearingAid.com, two eCommerce Direct-to-Consumer hearing aid sales websites. These websites are exclusively designed for the tens of millions of people to be able to purchase hearing aids and related accessories with Pre-Tax Dollars using their Flexible Spending Accounts ("FSA"
or Health Saving Accounts ("HSA". Most of the tens of millions of people who have these types of accounts are not aware that hearing aids qualify as Pre-Tax Dollar expenditure through most of the FSA and by all HSA.
InnerScope believes these websites are the only online Direct-to-Consumer websites solely dedicated to accept FSA or HSA online payments for the purchase of InnerScope hearing aids. Additionally, InnerScope through its www.FSAHearingAid.com and www.HSAHearingAid.com websites will bring much needed awareness to the current 48 million people in the U.S (reported to having hearing issues) and with many of these people are FSA and HSA account holders, will now have a direct access with a convenient no-hassle way using Pre-Tax Dollars to purchase hearing aids and related accessories directly shipped to their home. Furthermore, with a simple reimbursement process, Walmart.com customers can purchase, InnerScope's hearing aids using Pre-Tax Dollars through their FSA or HSA. Moreover, Walmart.com customers can go to www.walmart.com/flexible-spending-account to purchase other FSA and HSA qualify medical related products.
Both FSA and HSA function like a credit card for purchases for certain out-of-pocket health care costs, which includes hearing aids. 87% of employers with 500 or more workers offer this FSA benefit. FSA allows for medical expenses such as hearing aids, for the individual, their spouse, their children under 27, and other claimed dependents i.e. an elderly parent. According to www.Healthcare.gov, FSA's has an annual time limit and deadline, typically on December 31st of each year to spend the money or lose the money. There can be a grace period, but after the expiration period, the money has to be used or it is lost. However, there are differences between FSA and HSA. The biggest difference for HSA is there is no annual time limit or deadline to spend the money. All HSA unused funds can carry over year after year.
According to www.devenir.com 2017 HSA Report, the number of HSA accounts surpassed 22 million, holding $45.2 billion in assets, a year-over-year increase of 22% for HSA assets and 11% for accounts for the year ended December 31, 2017. The average investment account holder has a $16,457 average total balance. Devenir HSA research report currently projects that the HSA market will exceed $60 billion in HSA assets by the end of 2019, held among roughly 27.5 million accounts.
"InnerScope is continuing to help the tens of millions of people in the U.S. the ability to afford to purchase hearing aids," said Matthew Moore, CEO of InnerScope Hearing Technologies. "We are proud to have launched www.FSAHearingAid.com and www.HSAHearingAid.com Direct-to-Consumer hearing aid stores for the tens of millions of account holders to take a tax advantage of purchasing hearing aids. These millions of account holders not only can purchase hearing aids and related accessories for their own personal hearing needs, but also can use their FSA or HSA funds to purchase hearing aids for their aging parents, provided however, if they are claimed as a dependent. Unfortunately, hearing aids have always been one of the most expensive out-of-pocket costs for the elder population that is not generally nor has ever been covered by health insurance. InnerScope is breaking all traditional industry barriers by bringing to the market Direct-to-Consumer affordable hearing aids with the latest in hearing technology to the 40+ million Americans that have been denied hearing help due to high cost and accessibility," Mr. Moore concluded.
ROSEVILLE, Calif., Nov. 28, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB:INND), a manufacturer and direct-to-consumer distributor of hearing aids and related hearing products, announces the launching of www.FSAHearingAid.com and www.HSAHearingAid.com, two eCommerce Direct-to-Consumer hearing aid sales websites. These websites are exclusively designed for the tens of millions of people to be able to purchase hearing aids and related accessories with Pre-Tax Dollars using their Flexible Spending Accounts ("FSA"
or Health Saving Accounts ("HSA". Most of the tens of millions of people who have these types of accounts are not aware that hearing aids qualify as Pre-Tax Dollar expenditure through most of the FSA and by all HSA. InnerScope believes these websites are the only online Direct-to-Consumer websites solely dedicated to accept FSA or HSA online payments for the purchase of InnerScope hearing aids. Additionally, InnerScope through its www.FSAHearingAid.com and www.HSAHearingAid.com websites will bring much needed awareness to the current 48 million people in the U.S (reported to having hearing issues) and with many of these people are FSA and HSA account holders, will now have a direct access with a convenient no-hassle way using Pre-Tax Dollars to purchase hearing aids and related accessories directly shipped to their home. Furthermore, with a simple reimbursement process, Walmart.com customers can purchase, InnerScope's hearing aids using Pre-Tax Dollars through their FSA or HSA. Moreover, Walmart.com customers can go to www.walmart.com/flexible-spending-account to purchase other FSA and HSA qualify medical related products.
Both FSA and HSA function like a credit card for purchases for certain out-of-pocket health care costs, which includes hearing aids. 87% of employers with 500 or more workers offer this FSA benefit. FSA allows for medical expenses such as hearing aids, for the individual, their spouse, their children under 27, and other claimed dependents i.e. an elderly parent. According to www.Healthcare.gov, FSA's has an annual time limit and deadline, typically on December 31st of each year to spend the money or lose the money. There can be a grace period, but after the expiration period, the money has to be used or it is lost. However, there are differences between FSA and HSA. The biggest difference for HSA is there is no annual time limit or deadline to spend the money. All HSA unused funds can carry over year after year.
According to www.devenir.com 2017 HSA Report, the number of HSA accounts surpassed 22 million, holding $45.2 billion in assets, a year-over-year increase of 22% for HSA assets and 11% for accounts for the year ended December 31, 2017. The average investment account holder has a $16,457 average total balance. Devenir HSA research report currently projects that the HSA market will exceed $60 billion in HSA assets by the end of 2019, held among roughly 27.5 million accounts.
"InnerScope is continuing to help the tens of millions of people in the U.S. the ability to afford to purchase hearing aids," said Matthew Moore, CEO of InnerScope Hearing Technologies. "We are proud to have launched www.FSAHearingAid.com and www.HSAHearingAid.com Direct-to-Consumer hearing aid stores for the tens of millions of account holders to take a tax advantage of purchasing hearing aids. These millions of account holders not only can purchase hearing aids and related accessories for their own personal hearing needs, but also can use their FSA or HSA funds to purchase hearing aids for their aging parents, provided however, if they are claimed as a dependent. Unfortunately, hearing aids have always been one of the most expensive out-of-pocket costs for the elder population that is not generally nor has ever been covered by health insurance. InnerScope is breaking all traditional industry barriers by bringing to the market Direct-to-Consumer affordable hearing aids with the latest in hearing technology to the 40+ million Americans that have been denied hearing help due to high cost and accessibility," Mr. Moore concluded.
