Health care bills are the one area that it pays to pay slow!  Many of you conscientious quick-payers are paying more than you actually owe the providers (and most are NOT going to refund you the money on their own!)  You should not pay a bill from your provider until you’ve checked it against your Explanation of Benefits (EOB) for that particular claim.  Why, you ask?  Because if your provider is “in-network”, they’ve agreed to accept a lesser amount for their services than what they billed.  And in most cases you are NOT responsible for the difference.  Say a facility charges $3,400 for a PET scan, but they have agreed with your insurance company to accept $2,600 for that service.  After you’ve met your deductible, you are only responsible for 20% (assuming an 80/20 co-insurance) of the $2,600 less deductible, not the $3,400 less deductible.

These days you can usually register with your insurance company online so you can see and print your claims and EOB information.  Follow these steps to save $$ —

1. When you receive a bill from a health care provider, go online to see if they have submitted a claim with your insurance company and whether or not it has been processed.
2. When available, print out the EOB (Explanation of Benefits) for that particular claim. Hint: when you have multiple claim submissions, be sure to match the date of service and claim amounts with your bill.  On your EOB look at the Amount Billed, the Amount Allowed, the Amount Paid by Insurance Company, and Amount You May Owe.   You should not pay more than the Amount You May Owe Provider (IF dealing with In-Network providers!).
3. If you receive a past due notice from your provider before you can see your EOB online, call your provider and let them know your are waiting to check the EOB against their bill.