The Explanation of Benefits (EOB) from an Insurance Company Will

question 82

Short Answer

The explanation of benefits (EOB) from an insurance company will include:
A)payments and adjustments from the carrier.
B)payments from the carrier and the patient.
C)the fee schedule on which payment was based.
D)the per-member-per-month fee.

• A)payments and adjustments from the carrier.
• B)payments from the carrier and the patient.
• C)the fee schedule on which payment was based.
• D)the per-member-per-month fee.

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Definitions:

Per Unit

Refers to expressing costs, revenues, or other financial metrics on a per-unit basis to provide a standardized measure.

Absorption Costing

An accounting method that includes all manufacturing costs, both variable and fixed, in the cost of a product, and is used for external reporting purposes.

Unit Product Cost

The total cost associated with manufacturing one unit of a product, including labor, materials, and overhead expenses.

Year 1

A term typically used to refer to the first year of operation, accounting period, or investment.