What does "EOB" stand for in healthcare?

"EOB" stands for "Explanation of Benefits" in healthcare. This term refers to a statement provided by health insurance companies to their policyholders after a medical claim has been processed. The EOB outlines the services rendered, how much was billed by the healthcare provider, the amount that the insurance company is responsible for paying, and what portion the insured is expected to pay out of pocket. This document is crucial for understanding the coverage specifics of a health insurance plan, including deductibles, copayments, and any remaining balance that must be addressed by the patient.

In contrast, other options represent inaccuracies regarding healthcare terminology. "End of Benefits" does not accurately describe a key piece of healthcare documentation, "Emergency Overpayment Bill" is not a standard term associated with insurance claims, and "Excessive Out-of-Pocket Balance" while related to patient costs, does not convey the information provided in an EOB. Thus, the choice of "Explanation of Benefits" captures the essential function of this document in detailing what the insurance covers and what expenses fall to the patient.