InnerScope Hearing Technologies (OTC: INND) Launches Direct-to-Consumer Hearing Aid on FSAstore.com, HSAstore.com, & WellDeservedHealth.com
InnerScope Hearing Technologies (OTC: INND) has partnered with Health-E Commerce to provide medical-grade Direct-to-Consumer Hearing Aids to over 70 million consumers using pre-tax health spending accounts (FSAs and HSAs). This collaboration enables these consumers to access affordable, app-controlled hearing aids without needing a prescription. Through platforms like FSAstore.com and HSAstore.com, InnerScope aims to improve accessibility for the 48 million Americans suffering from hearing loss, addressing both affordability and convenience.
- Partnership with Health-E Commerce expands market access for hearing aids to 70+ million consumers.
- Direct-to-Consumer Hearing Aids are eligible for FSAs and HSAs, enhancing affordability.
- No medical evaluation or prescription required for purchasing hearing aids.
- 40 million Americans suffer from untreated hearing loss due to high costs and accessibility issues.
- Dependence on tax-advantaged accounts may limit broader market reach.
InnerScope partners with Health-E Commerce to offer Medical-Grade Direct-to-Consumer Hearing Aids to the 70+ million consumers with pre-tax and tax-free health spending accounts
ROSEVILLE, Calif., Aug. 09, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- InnerScope Hearing Technologies Inc. (OTC: INND) ("InnerScope"), an emerging and disruptive leader in the direct-to-consumer hearing technology space, announced it has partnered with Health-E Commerce to offer its medical-grade, Direct-to-Consumer Hearing Aids and related hearing products on FSAstore.com and HSAstore.com for the 70+ million consumers enrolled in tax-advantaged flexible spending accounts (FSAs) and health savings accounts (HSAs). In addition, InnerScope has launched its Direct-to-Consumer Hearing Aids on WellDeservedHealth.com, the online marketplace dedicated to individuals who participate in workplace wellness and health incentive programs through their employer.
Health-E Commerce (parent brand of FSAstore.com, HSAstore.com, and WellDeservedHealth.com) is a consumer health and wellness online retailer and industry leader in the U.S. tax-free healthcare market. Health-E Commerce is on a mission to help individuals and families get more value from their health spending accounts. In addition to an exclusively eligible shopping experience that removes the guesswork spending FSA and HSA funds, Health-E Commerce is a leading source of online account education and product eligibility advocacy for consumers.
InnerScope's affordable medical-grade Direct-to-Consumer Hearing Aids and related hearing products qualify as eligible products for FSA and HSA users. InnerScope offers its Bluetooth app-controlled self-adjusting rechargeable hearing aids that require no medical evaluation or prescription ("Direct-to-Consumer Hearing Aids") on FSAstore.com, HSAstore.com, and WellDeservedHealth.com, websites. InnerScope's Direct-to-Consumer Hearing Aids are shipped directly to consumers' homes and designed to easily personalize the hearing aids to their hearing needs right out of the box in less than 10 minutes using any smartphone. As a result, InnerScope has "Made Hearing Easy and Affordable" by delivering premium medical and professional-grade hearing aids with the same quality of hearing experience and satisfaction at a fraction of the cost compared to hearing aids purchased through independent brick-and-mortar hearing care professionals.
"We strive to deliver a wide array of exclusively FSA- and HSA-eligible products that improve the everyday health and well-being of individuals and families," said Rida Wong, president of Health-E Commerce. "By partnering with InnerScope Hearing Technologies, we are giving consumers with untreated hearing loss access to reliable hearing products that can be purchased with their pre-tax healthcare dollars.”
Matthew Moore, president, and CEO of InnerScope commented, "We are honored to partner with Health-E Commerce to offer Direct-to-Consumer Hearing Aids on the FSAstore.com, HSAstore.com, and WellDeservedHealth.com to the millions of consumers with pre-tax health spending accounts. Currently, 48 million Americans suffer from hearing loss. Unfortunately, mainly due to high cost and accessibility, 40 million Americans live with the risks of health and cognitive issues caused by untreated hearing loss. Hearing aids are the most common treatment for hearing loss. Access to reliable and affordable hearing aids is the first step in providing proper hearing healthcare. This partnership is another significant leap forward in advancing InnerScope's mission to provide affordable hearing health solutions to the 48 million Americans who suffer has hearing loss.”
About InnerScope Hearing Technologies, Inc. (OTC: INND):
InnerScope is a manufacturer, and distributor/retailer of Direct-to-Consumer ("DTC") FDA (Food and Drug Administration) registered Bluetooth App-Controlled Hearing Aids, Bluetooth App-Controlled Personal Sound Amplifier Products (PSAPs), hearing-related treatment therapies, doctor-formulated dietary hearing and tinnitus supplements, and assorted hearing and health-related products targeting primarily the 48 million Americans suffering from hearing-related issues. The Company's overall mission is to improve the quality of life for the estimated 70 million people in North America and the 1.5 billion people worldwide who has some form of hearing loss.
The management team of InnerScope is applying decades of industry experience and believes it is well-positioned with its affordable Bluetooth app-controlled self-adjusting hearing technology (visit myHearIQ.com) and its innovative in-store sales and delivery system with its point-of-sale free self-check hearing screening kiosks ("Hearing Kiosks") to directly benefit when the Over-the-Counter (OTC) Hearing Aid Act (the "OTC Hearing Aid Law") becomes enacted (expected late 2021 based on the president's executive order issued on July 9, 2021). The OTC Hearing Aid Law allows OTC hearing aids for perceived mild to moderate hearing losses to be sold in retail stores without seeing a professional or having a medical evaluation. The Hearing Kiosk is designed to enable the tens of millions of people with undetected or untreated mild to moderate hearing losses to treat themselves with the Company's easy, convenient, and affordable (see InnerScope's Hearing Health Flexible Subscription Plans) OTC hearing aids in-store, off the shelf and/or by DTC online affordable hearing aid options. For more information, please visit www.innd.com.
Please be aware that InnerScope social media accounts are used for additional information about material events from time to time:
https://t.me/innerscope (InnerScope Investor Group Chatroom)
https://stocktwits.com/symbol/INND
https://www.youtube.com/channel/UCkilAxjZESjMz_Gd7QIYhmw (InnerScope Official YouTube Channel)
About Health-E Commerce:
Health-E Commerce is the parent company of FSAstore.com, HSAstore.com, and WellDeservedHealth.com, a family of brands that serve 70+ million consumers enrolled in pre-tax health and wellness accounts. The company has also created Caring Mill, a popular private label line of health products that benefit Children's Health Fund and empower customers to make a donation with each purchase. Since 2010, Health-E Commerce brands have led the direct-to-consumer e-commerce market for pre-tax health and wellness benefits. Health-E Commerce plays an essential role in expanding product eligibility for important new categories within the IRS-approved list of eligible medical expenses like sunscreen and breast pumps. The company leads a committee of industry experts to promote the important national conversation around product safety and authenticity
About FSAstore.com:
FSAstore.com is flex spending with zero guesswork. It's both the largest online marketplace for guaranteed FSA-eligible products and an educational resource that you can actually understand. It's the company's mission to help millions of FSA holders manage and use their accounts and save on more than 6,000 health items using tax-free funds.
Safe Harbor
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Any statements that are not historical facts contained in this press release are also "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations; involve known and unknown risks, a reliance on third parties for information, transactions, or orders that may be canceled; and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or maintain contractual relationships with vendors and customers, competition, general economic conditions and other factors that are detailed in our periodic reports filed with the Securities and Exchange Commission ("SEC"). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA, Securities Act, and Securities Exchange Act.
Contact:
InnerScope Hearing Technologies, Inc.
Investor Relations
ir@innd.com
833-788-0506
www.innd.com
Investor Relations Agency Contact:
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: lisa@skylineccg.com
For the most up-to-date information about InnerScope Hearing Technologies (OTC: INND), please visit and follow our official Twitter account @inndstock page.
Hyperlinks:
Health E Commerce
FSAstore.com
HSAstore.com
WellDeservedHealth.com
48 million Americans
1.5 billion people worldwide
Direct-to-Consumer Hearing Products.
MyHearIQ.com
InnerScope's Hearing Health Flexible Subscription Plans
Free Self-Check Hearing Screening Kiosks
Over-the-Counter (OTC) Hearing Aid Act
Executive Order
The White House Fact Sheet on Executive Order
President Biden's Executive Order remarks on making hearing aids available OTC
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
FAQ
What is the recent partnership involving InnerScope Hearing Technologies and Health-E Commerce?
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