explanation of benefits (EOB). Any time a doctor, clinic, hospital or pharmacy tells your insurers about some care you’ve had, your insurance will send you an explanation of benefits, or EOB. The EOB shows the amount originally charged for the care you got, your insurance’s allowed amount and the amount you still owe. An EOB is not a bill, even though it looks like one. You will receive a bill directly from your doctor, clinic, hospital or pharmacy for any amount you have to pay them.