If what you say is true: 'it's actually a heat pump' than it's not really a heater, it's just a fan that draws in warmer air from outside. Your 'heater' will still work even though the A/C part has stopped working. They may be controlled from the same knob but they are two different systems, much like a car. A/C components aren't just expensive, they are expensive to repair due to the chemicals inside. Proper containment procedures are timely and not cost effective so replacing a unit may be cheaper than repairing.
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