How Long to Keep Medical Insurance Records?

[joesxm3]

I am handling the finances for my 95 year old mother and my 91 year old stepfather. Neither of them file income tax because they fall way below the income level cut off.

My mother is covered by Medicare, her husband's retiree health insurance and is also covered by state Medicaid. My stepfather is covered by Medicare and his retiree health insurance. Mom has had a lot of paperwork for emergency room, hospital stay, nursing home starting in December 2019 and now sees her primary care physician and several specialists. Stepfather is mainly seeing his primary care physician.

I have quite a pile of EOB's from Medicare and from the retiree health insurance and would like to get rid of a lot of this.

So far, all of my mother's care has simply been covered by her three insurance plans. Stepfather's visits occasionally result in a small bill that I write a check for.

Since we are not deducting any of this on income tax, it seems that I should be able to get rid of almost all of it once it reaches the point of not generating a bill that I need to pay, or at least keeping no more than the past one year's worth of documents.

Does that make sense?

 

[MBAustin]

I personally can't think of any reason to keep them longer than a year, but someone else may have something neither of us thought of. That's what's great about this board!

 

[disneysteve]

If it isn’t tax-related and the bill has been settled, no need to save the EOB.

 

[gauss]

If it were me, personally, I would hang on to them until they pass.

The reason would be there may be some question about what she was diagnosed and treated with in the past. With the billing records you would be able to reconstruct this if your collective memories fade.

I know whenever DM visited a new health care provider there were numerous intake forms that asked about medical history.

Maybe you could pay someone to scan/digitize all the documents then you would still have access to them if you needed, but not have the physical clutter.

Alternatively if an EOB is generated for all health care visits, maybe just retain the EOBs.


-gauss

 

[aja8888]

Medicare has all the EOB's online. That's where I check mine. If they open online accounts with Medicare, it will all be there going back several years.

 

[teej1985]

If it were me, personally, I would hang on to them until they pass.

The reason would be there may be some question about what she was diagnosed and treated with in the past. With the billing records you would be able to reconstruct this if your collective memories fade.

I know whenever DM visited a new health care provider there were numerous intake forms that asked about medical history.

Maybe you could pay someone to scan/digitize all the documents then you would still have access to them if you needed, but not have the physical clutter.

Alternatively if an EOB is generated for all health care visits, maybe just retain the EOBs.


-gauss

My EOB's from my insurer aren't at all descriptive about what the claim is for.

 

[jebmke]

I don't keep any EOBs. They are all posted to my Medicare account if I needed them but I have never needed them.

 

[Dash man]

We get everything electronically and can access it on Medicare or our insurers websites. DW keeps some statements for her father because it’s a union MA plan that has sometimes caused aggravation, but once settled she destroys the papers.
The only exception are the few years we’ve been able to take deductions on our taxes. Those we hang on to.

 

[joesxm3]

Thanks to all.
I guess I will flip a coin and either toss them all or put them in a junk box in the closet.
Leaning toward tossing them.

I will, however try to make a comprehensive list of medical problems and prior treatments. I sort of have that but a formal one will be better.

 

[Teacher Terry]

I toss after a year.

 

[Katsmeow]

Nowadays I basically keep this kind of stuff forever as I either download it from online or I scan it in. It is sometimes helpful to look back and see what was done. Also, if there is a future dispute it helps to have the underlying information. But, since it is easy to keep scanned or downloaded documents I just don't take the trouble usually to go in years later to discard stuff. I guess I could if I wanted to.

Before I scanned anything in I kept it for as long as the statute of limitations was if a provider or insurance sued claiming that they were owed something. What that is, varies by state.

 

[Badger]

In the past 12 years I have had a number of major surgeries and regular treatments for skin cancer that has resulted in quite a lot of paperwork from the Drs, hospitals, Medicare, and Tricare. I have kept everything to provide a chronological account of everything involved for future reference if needed. It is easy enough to store them in boxes and kept in the garage or attic.

Cheers!

 

[gauss]

Medicare has all the EOB's online. That's where I check mine. If they open online accounts with Medicare, it will all be there going back several years.

Do you know how long the online Medicare EOBs available?

With our private pre-Medicare insurance the EOBs only stick around for 2 years.
Also, DWs half of them disappeared when she retired (although my half remained accessible).

Also I suspect that once an individual dies, their online Medicare EOBs would no longer be accessible once the death is reported to SS administration.

-gauss

p.s. I realize that I am probably way out in the bell curve tail on this one, but I hate loosing information.

 

[aja8888]

Do you know how long the online Medicare EOBs available?

With our private pre-Medicare insurance the EOBs only stick around for 2 years.
Also, DWs half of them disappeared when she retired (although my half remained accessible).

Also I suspect that once an individual dies, their online Medicare EOBs would no longer be accessible once the death is reported to SS administration.

-gauss

p.s. I realize that I am probably way out in the bell curve tail on this one, but I hate loosing information.

My bold above: No, I don't know how long they are available.

 

[Koolau]

I guess I'm trying to understand what use we would have for such info beyond a year or so. I think we (roughly) keep EOBs, etc. for the current and past year. When we get around to it, we shred old stuff. Am I missing a possible pitfall here?

 

[aja8888]

I guess I'm trying to understand what use we would have for such info beyond a year or so. I think we (roughly) keep EOBs, etc. for the current and past year. When we get around to it, we shred old stuff. Am I missing a possible pitfall here?

I found a file I had put away in a box that contains the paperwork of my shoulder surgery in 1976. No internet back then and I have a folder of papers and paid bills, etc. I guess I could throw it out now.

 

[pacergal]

The only reason I can think of to keep EOB would be for tax purposes, and then, only if you qualify to deduct, so maybe up to 7 years? Most medical offices and Medicare have EOBs on line and available, so no need to keep a hardcopy, unless you want too.

Any medical diagnosis, treatment, etc. is more accurately available via your medical providers.