Explanation of Benefits

Decoding Your Explanation of Benefits (EOB) | Aura Insure Glossary

Understanding Your Explanation of Benefits (EOB) Statement

An Explanation of Benefits (EOB) is a statement from your health insurance company that details what portion of a medical service they paid for and what you may owe. It's not a bill, but rather a breakdown of the costs associated with your healthcare.

Key Points:

• Shows the total cost of service, what your insurance paid, and what you may owe.

• Includes important information like service date, provider, and claim number.

• Helps you track your deductible and out-of-pocket maximum.

Example: After a doctor's visit, you might receive an EOB showing a $150 charge. If your plan covers 80% after deductible, and you've met your deductible, the EOB would show your insurer paid $120 and you're responsible for $30.

At Aura Insure, we’re here to help you understand all aspects of your health plan, including how out-of-pocket maximums impact your coverage. Contact us today to learn more about finding the right plan for your needs and budget.