The explanation of benefits (EOB) is a statement from your benefit plan describing what costs it will cover for your claims. The EOB is not a bill.
An EOB typically includes:
- The cost of the care you received
- Any money you saved by visiting an in-network provider
- Any deductible or coinsurance you’ll be responsible for paying
How it works
- A provider will bill your benefit plan after you’ve received care. That’s when you’ll receive an EOB detailing the costs of care and the value of your plan.
- The EOB will also show whether or not you have met your deductible or how close you are to meeting it.
- Later, you may receive a separate bill for the amount you may owe if you did not pay at time of service. This bill will include instructions on who to direct the payment to.
- Example: You may be billed if you did not pay your coinsurance when you were at the dentist's office.