What is an Explanation of Benefits (EOB)?
An EOB, or Explanation of Benefits, is a statement from a health insurance plan detailing the charges received for your services. The EOB statement is generated when your provider submits a claim to the health insurance plan for services you received. The EOB describes the costs the health insurance plan will pay for medical services, prescription drugs and products you’ve received, the patient’s out-of-pocket costs including amounts falling to deductibles or co-payments, and amounts the plan forgives for using an in-network provider with negotiated rates. The EOB is not a bill, rather it is a statement of charges that were received and processed by the insurer. For support and additional information, explore our solutions for Health Plans Regulated Communications.