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Posted 4/3/17 / Insurance Tips & Advice
Why Should I Care What the EOB Says?
There are several important reasons to check your EOB (Explanation of Benefits) from the Insurance Company each time you receive one. Here are just a few:
- Comparing the “Amount billed,” the “Amount allowed,” and “Amount you may owe,” will give you a clear idea of what the insurance company allowed your provider to charge you, and what you thus owe to that provider.
- If you do owe your provider something for the visit, this will be reflected on your EOB. Knowing about it in advance can help you plan and budget. When you get a bill from the provider, compare it with your EOB. They should match in terms of your payment responsibility. If they do not, let your insurance company know right away.
- If you get an EOB for a service you don’t recall receiving, call a member services representative at the number on your ID card for help researching the claim.
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