EOB Expanation of Benefits

Definition: EOB is an acronym for Explanation of Benefits. Although EOBs often look like a medical bill, the EBO actually gives you details regarding how your insurance company processed medical insurance claims. The EOB tells you what portion of a claim was paid to the health care provider and what portion of the payment, if any, you are responsible for.

Avoid Overpaying Medical Bills

An EOB can help you to avoid paying more than you should for medical care. Look over your EOBs when they arrive in the mail and compare them to your medical bills to ensure you pay the medical provider the correct amount. If you find an error on a bill from a doctor or other health care provider, call to explain that your EOB shows that insurance paid on the claim and you have a billing error.

Ensuring Insurance Benefits

Just as your health care providers can make billing errors, coding errors can occur when EOBs are processed by your insurance company. If you do not understand something on your EOB or you think your insurance policy covers an expense that an EOB shows you was not paid, call your insurance company for an explanation or to have the benefit reviewed.

Also Known As: Explanation of Benefits