Type: initialism

An explanation of benefits (commonly referred to as an EOB form) is a statement sent by a health insurance company to covered individuals explaining what medical treatments and/or services were paid for on their behalf. The EOB is commonly attached to a check or statement of electronic payment. An EOB typically describes: the payee, the payer and the patient, the service performed—the date of the service, the description and/or insurer's code for the service, the name of the person or place that provided the service, and the name of the patient, the doctor's fee, and what the insurer allows—the amount initially claimed by the doctor or hospital, minus any reductions applied by the insurer, the amount the patient is responsible for, adjustment reasons, and adjustment codes. EOB documents are protected health information.

Learn more: https://www.healthinsurance.org/glossary/explanation-of-benefits/