An EOB stands for Explanation of Benefits, which is a statement sent by your health insurance company that explains what medical treatments and/or services were paid for on your behalf.
An EOB is commonly attached to a check or statement of electronic payment to your provider and should not be mistaken as a bill indicating you owe any balances. A separate bill will be sent by your provider or insurance if any balances are owed.
An EOB typically describes the following:
- the payee, the payer and the patient
- the service performed—the date of the service, the description and/or insurer's code for the service, the name of the person or place that provided the service, and the name of the patient
- the provider's fee, and what the insurer allows—the amount initially claimed by the provider or hospital, minus any reductions applied by the insurer
the amount the patient is responsible for
- adjustment reasons, adjustment codes