Should I keep my health insurance statements of benefits?

Question

Every time my health insurance pays a claim, I get a statement in the mail that shows what the charges were from the doctor and what the insurance company paid on those charges. I have a stack an inch thick from the past 2 years. Is there any reason I could keep these statements? If I need to keep them, how long should I keep them?

Answer 1

I always do.  Experience has taught me that many providers' billing functions are inept and error-prone.

Answer 2

They are a necessary document if you find that a provider suddenly decides to send you a bill, or god forbid, to collection. I like to keep mine filed according to provider, attached to the corresponding statement from the provider-but I'm retentive! That way I make sure that all providers are paid and paid correctly. I would keep them for 5-7 years (cause that's how long the statute of limitations for collection are in most states).

Answer 3

I keep  ALL of mine... I've worked in insurance & health care for a LONG time... and I hate to say it, but I CONSTANTLY see bills from doctors & hospitals in collections that are 5 & 6 years old, sometimes even older. I've had to dig for claims 10+ years old, stored on microfiche... If you have a medial bill sent to collections, it will fall off your credit report after 7 yrs, and will reappear when a different collection agency buys the debt. Its up to a patient to provide 'proof' the insurance paid their part to a collector. I keep mine... Separate them by year, & file them away in a cabinent with my taxes.