What information does an Explanation of Benefits (EOB) form provide?

An Explanation of Benefits (EOB) form primarily provides a summary of how charges incurred during a medical visit or procedure were covered by an insurance policy. This includes information on what costs were approved, any deductibles that need to be met, the patient's financial responsibility (such as co-pays or co-insurance), and the portion that the insurance company will pay. The EOB serves to clarify the details of the claim processed, ensuring that patients understand how their benefits were applied to the services received, and helps them keep track of their health care expenses.

In contrast, other options refer to different types of documents or information. Terms of the insurance policy would encompass broader details, which are not specific to individual claims. An authorization for a medical procedure typically comes from the insurance company before the service is performed, ensuring coverage rather than detailing how charges were processed afterward. Lastly, a patient's health history overview is distinct from the financial details provided in an EOB, as it focuses on the patient's medical background rather than billing information. Understanding these distinctions underscores the specific role the EOB plays in the insurance and health care billing process.