Glossary

Explanation Of Benefits

Abbreviation: EOB

A statement provided by the health insurance company that shows services billed by the healthcare provider, how they were processed by the carrier and the balance to be charged to the policyholder. This is not a bill. EOBs are sent out to the provider and to the insured clearly showing how services are covered under the policy. If there is a remaining balance the provider will send a bill to the insured.