What is an Explanation of Benefits (EOB) statement and what should you look for when you receive one?

An Explanation of Benefits is not a bill — it is a summary from your insurer detailing how a claim was processed. It shows the provider's original charge, the amount your insurer's contracted discount reduced it by, what your plan paid, and what your remaining responsibility is. Carefully comparing your EOB against any bill from your provider is essential because billing codes on the provider's claim may not match the services actually delivered, and EOBs themselves can contain processing errors. Discrepancies between your EOB and a provider's bill often indicate a billing problem that needs to be resolved before you pay.