When you receive a medical service or procedure that is billed to your insurance, your insurance company will send you a statement called an “Explanation of Benefits,” or EOB. This document has information relating to how much was paid on your recent treatment and how much is still owed. There is also another line item you’ll see on your EOB called an allowed amount, which is the amount considered payment-in-full by your insurer and any providers in their network for the cost of your medical procedure or doctor visit. Understanding the charges is an important part of being an informed participant in your care.
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