What does EOB mean? Read on to discover the definition & meaning of the term EOB - to help you better understand the language used in insurance policies.
An explanation of benefits (EOB) is a statement issued by the insurance company to the insured. It shows the insurer's process in addressing a claim. It also details how much the company will pay for a particular claim, as well as the amount the insured will have to pay out of pocket.
We hope the you have a better understanding of the meaning of EOB.