What Is The Explanation Of Benefits (EOB)?

​An EOB is a statement of benefits sent to you by your insurance company after you receive medical care or file a claim. This can be helpful if you have questions about what your insurance company paid for and why, but it's also useful for understanding how much money you're owed in total.

Why Should I Keep My EOBs?
EOBs are important for your medical records. You should save them for they contain a piece of information about your medical care, as well as other important details, such as:

• The date of service
• The type of service (such as a procedure)
• Other related information like billing codes, fates, and amounts paid out by your insurance companies
• The cost of the care you received

The Importance Of An Explanation Of Benefits
An EOB summarizes the medical benefits and services you received while enrolled in Medicare. It lists all the items covered by your plan, including prescription drugs, doctor visits, hospital stays, and other medical treatments.

You should receive an EOB every time you visit a doctor or specialist who charges more than the standard fee for their services (this includes many doctors' offices). 

If you don't see this listing on your bill after receiving treatment from those providers listed in your EOB, contact them directly to find out why it was not included—it may be because another provider billed for those services or because there was no charge at all.

In addition, it is an instrument for your transparency, and you may want to have an EOB for you to be aware of what you're charged for; after all, now and then, some medical billing companies make an error, and this may come in handy to refer to the errors they've made.

To Wrap It Up
Our EOBs contain important information about your medical care, and it's important to keep them so you can access them when needed. We hope this article has helped you understand what an EOB is, how they work and why it's important to have one.

At Medicare Supplement Store, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (732) 252-8828 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!