You should always save your Explanation of Benefits forms until you get the final bill from your doctor or health care provider. Compare the amount you owe on the EOB to the amount on the bill. If they match, that's the amount you'll need to pay. Keep in mind that often you will get more than one EOB if you received more than one type of service or treatment, or if you received treatment on more than one day. You may have a stack of several, which you should save.
Your bill should itemize the services you received so you can see what was billed and what was covered for each. You should keep these statements together by provider. This way, comparing one month's statement to the next becomes easier. Finding discrepancies or different charges on your bill may be a sign that you need to contact the provider for more information. Keep medical bills until you have paid the bill in full. Hang on to them for an additional year, especially if you plan on deducting the expenses on your income tax return.
After that period, you can shred them. However, if you have a reoccurring condition, it may be a good idea to keep your bills indefinitely for personal records. Another document you will receive is an explanation of benefits, or EOB. This happens after your insurance company has started processing your claims.
EOBs may show medical codes for procedures and treatments, the names of doctors and hospitals that are billing you, and how much your insurance is paying to these different providers. You should study them. You will see that the amount you owe each provider is the same on the bill and the EOB. Learn more about what to look for in your Explanations of Benefits.
EOBs and other sensitive documents contain personal information which can be used for identity theft and should always be stored and disposed of in a secure manner. Store sensitive documents in a secure location, or scan them and store them on your hard drive, or in the cloud, with password protection. On-site shredding services allow you to follow the chain of custody, ensuring the integrity of your personal data. Contact TrueShred online or call us at to receive an estimate for secure, on-site shredding services throughout Northern Virginia, Maryland, and Washington, DC.
If you have questions about personal document shredding or want to schedule an on-site shredding job, call TrueShred at or contact us online. I plan to continue to use your service and will highly recommend TrueShred to other businesses. All rights reserved. Privacy Policy. It simply explains how your benefits were applied to that particular claim. It includes the date you received the service, the amount billed, the amount covered, the amount we paid and any balance you're responsible for paying the provider.
It also tells you how much has been credited toward any required deductible. We recommend you keep all EOBs for at least two years. Each time you receive an EOB, review it closely and compare it to the receipt or statement from the provider. To help in this task, we've explained the EOB form, item by item. There's a lot of information packed into the EOB. We re-organized it all so you can quickly find what matters most to you. The new EOB contains 3 items:.
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