Why Your Insurance Company Sends This after Healthcare Treatments
“Bang zoom! To the moon!” Settle down audience; there’s no need to be alarmed. It’s just Ralph Kramden blowing his top again. In fact, it explains why he lost his cool points. Hey Alice, you need to check your man! He just openned up his mail and saw an Explanation of Benefits (EOB) statement from his insurance company. Now, he’s making threats. The whole neighborhood could hear him saying, “One of these days, one of these days, Pow! Right in the premium!”
You’re a real riot, ole’ Ralphie boy! Hey fella, no one is playing Trixie’s on you. An Explanation of Benefits (EOB) is an itemization of the healthcare services you received when you threw your back out bowling with Norton. It includes how much was charged for the health care service, what your insurance carrier paid and your out-of-pocket expenses.
We, at Achieve Financial Group decided to catch a ride on Ralph’s route with the Gotham Bus Company to let him know what list of information he should expect to see on the Explanation of Benefits (EOB).
- Member: Includes the contact information of you or the family member who received care, along with the group number on your insurance card.
- Summary of services: This lists the medical services received, along with any charges you may owe out-of-pocket. Compare the medical bill and the EOB, so you’re not billed incorrectly.
- Summary of deductibles and co-payments: This column lists the co-pays and deductibles that you’ve paid.
- Details of service: This explains what type of care was received, the date you received the care and the provider’s name. Check your healthcare provider bill against the EOB statement. Errors have been known to occur.
So, you see Ralph, the honeymoon doesn’t have to be over with your insurance carrier. Be rest assured, they’re really looking out for you when they send you an Explanation of Benefits statement (EOB), so give them a call and tell them “You’re the Greatest!” #AchieveMore