A statement sent by your health insurer after a claim is processed that shows what was billed, what the plan covered, what discount was applied, and what you owe. An EOB is not a bill, but it helps you understand how your benefits were applied to a specific service.
Related Terms
Claim
A formal request made by a policyholder to an insurance company for payment or reimbursement for a covered loss or policy event. Filing a claim triggers the insurer to investigate the loss, assess damages, and determine what amount is payable under the policy.
Coinsurance
The percentage of costs you share with your insurer after meeting your deductible. For example, with 80/20 coinsurance, the insurer pays 80% of covered expenses and you pay 20% until you reach your out-of-pocket maximum.
Coordination of Benefits
Rules that determine which health insurance plan pays first when you are covered under two or more plans. The primary plan pays its share of covered expenses first, and the secondary plan may cover some or all remaining costs. Coordination prevents paying more than 100% of the total bill.