Understanding the purpose of EOB statements

Have you ever wondered why you get an explanation of benefits (EOB) statement from your insurance company every time you visit a healthcare provider?

Mainly, the EOB is sent to you so you can compare the provider bill to the EOB and identify any discrepancies between the two.

An explanation of benefits (EOB) statement explains how much a provider charged for an office visit and/or procedure, how much the insurance plan paid and what (if anything) you may owe the provider. However, it is important to realize an EOB is not a bill

If you are a member of HealthSelect, your EOB will state, “This is not a bill. Do not pay. This is to notify you that we processed your claim.” The EOB also will instruct you to “Please wait for a provider bill before making a payment.”

A sample EOB statement from HealthSelect of Texas can be located here.

For more information about EOBs, contact your insurance plan at the number listed on your insurance card or EOB.

Categories: Benefits, Personal Finance

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