An EOB (Explanation of Benefits) is a document your insurance company sends whenever you receive healthcare. It’s not a bill, but a summary of services provided, including the total cost, what the insurance covers, and what you owe, among other things. It helps you verify if you’re being charged correctly by comparing it to the actual bill you receive from the healthcare provider. Always wait for your EOB before paying to ensure there are no cost discrepancies, and use it to dispute incorrect charges if necessary.