“Advanced” EOB Puts Economic Purchasing Power and Decision-Making Into Health Plan Member Hands

Christine Cooper, CEO of aequum LLC, provided eHealth Radio Network’s listening audience with guidance on strategies to take advantage of Advanced EOB price transparencies and advice that health care consumers can capitalize on to manage costs and fully optimize plan value. This insight has the potential to transform an employee’s health coverage usage, putting the economic purchasing power and decision-making in their hands.

To listen to Christine’s interview with ehealth Radio Network, click here.

For participants in an employer-sponsored health plan, healthcare consumerism brings an opportunity to engage and better understand the information incorporated in the Explanation of Benefits (EOB). An EOB from an insurance company contains important information regarding the medical services covered under a health plan. The Advanced EOB is essentially a version of the Good Faith Estimate that healthcare providers are required to send to health plan administrators and their members upon request to confirm cost estimates.

Key Insights from this Interview Include:

  • What role does EOB play in an employer-sponsored health plan?
  • How does “Advanced” EOB work for healthcare consumers and employer-sponsored health plan members?
  • How can health plan members ask for an Advanced EOB?
  • How does a member evaluate an Advanced EOB when received?
  • How can members work with its plan administrator for guidance and to identify reasonable price for procedure?

As your partner, aequum helps lower costs, achieve savings and support your plan member experience and success in 2023 and beyond. Please contact us if you have any questions or need support. For more information, visit www.aequumhealth.com.