Many over-the-counter hearing aids are much more expensive, according to buyers guides cited by the Hearing Loss Association of America, an advocacy group. While some OTC hearing aids cost as little as $99, most range from $799 into the thousands of dollars.

"What is really cool about Apple now saying their AirPods can be over-the-counter hearing aids, is we're seeing that technology innovation at a price point and in a product that's very mainstream," said Barbara Kelley, executive director of the Hearing Loss Association of America.