Explanation of Benefits (EOB) Law and Legal Definition

Explanation of Benefits (EOB) is a form, a statement, or document send to the subscriber by the insurance company explaining the action like what medical treatment or services were provided, amount to be billed, and payments made on each claim. EOB are sent by the insurance company to both enrollees and providers. It provides necessary information about claim payment information and patient responsibility amounts. Insurance companies while implementing their business will first send a sample EOB. EOB are issued to the subscribers of a private health insurance, a health plan from an employer, or medicare. An EOB is also called an EOB form or remittance.