Welcome back to the last piece of the Are You Covered series.
Are you ready to over the Explanation of Benefits, EOB, Summary of Payments and Summary of Benefits documents? Hold on! Don’t close the tab just yet, let me explain!
Explanation of Benefits = EOB = Summary of Benefits = Summary of Payments
Although these titles all sound daunting, and totally different, they all refer to the same thing! The most common abbreviation for all of these is EOB (Explanation of Benefits), which will be used for the rest of this article. The EOB is a document sent to you by your insurance provider to show what financially transpired behind the scenes of your medical visit.