There Is Help. There Is A Solution.
Contact Us Today! 603-635-4149

What is your EOB telling you?

Medical debt is among the primary causes of personal financial problems in Nashua as well as the rest of America (even for those who have health insurance). You may struggle with it simply because you do not fully understand the insurance claims process. That misunderstanding may lead you to mistakenly avoid your out-of-pocket obligations due to you believing that they will be paid by your insurance. Such confusion may be avoided, however, if you understand exactly how to read your EOB.

An EOB is an explanation of benefits provided by your insurance company that gives you with the financial details of your visit. You may believe this to be a bill, but it is actually not. Rather, it describes exactly what services you were charged for, what your insurance paid, and what, if any, you may still owe. Understanding what your EOB contains may help you to better stay on top of your medical bills and spot potential billing errors.

As you examine your EOB, you may notice that the amount charged is often different than the amount that your insurance company allowed for payment. That is because healthcare providers and insurance companies typically agree upon a contracted rate of payment. That is the allowed amount. The provider agrees to accept that amount as payment in full, meaning it cannot come after you to collect the difference between that and the original charge.

The website reports that as many as eight of every 10 medical bills contains an error. Thus, when you receive your EOB, you may want to compare it to an itemized statement of services given to you by your provider. If there are any discrepancies, you may want to point them out to the office and request that your claim be rebilled.  

No Comments

Leave a comment
Comment Information

Law Office of Paul Petrillo
One Tara Boulevard
Suite 200
Nashua, NH 03062

Phone: 603-635-4149
Map & Directions

Google Map