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Medical Costs Payable (Notes) | 3 Months Ended
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Mar. 31, 2020
Medical Costs Payable Text Block | Medical Costs Payable The following table shows the components of the change in medical costs payable for the three months ended March 31:
(in millions) |  | 2020 |  | 2019
Medical costs payable, beginning of period |  | $ | 21,690 |  |  | $ | 19,891 |
Acquisitions |  | — |  |  | 35 |
Reported medical costs: |  |  |  |
Current year |  | 41,580 |  |  | 39,239 |
Prior years |  | (580 | ) |  | (300 | )
Total reported medical costs |  | 41,000 |  |  | 38,939 |
Medical payments: |  |  |  |
Payments for current year |  | (23,471 | ) |  | (22,973 | )
Payments for prior years |  | (16,447 | ) |  | (14,753 | )
Total medical payments |  | (39,918 | ) |  | (37,726 | )
Medical costs payable, end of period |  | $ | 22,772 |  |  | $ | 21,139 |
For the three months ended March 31, 2020, prior years medical cost reserve development was primarily driven by lower than expected health system utilization. For the three months ended March 31, 2019, the prior years medical cost reserve development included no individual factors that were significant. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $14.3 billion and $13.8 billion at March 31, 2020 and December 31, 2019, respectively.

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- Definition The entire disclosure for insurance products considered to be short-duration contracts because the contract provides insurance protection for a fixed period of short duration and enables the insurer to cancel the contract or to adjust the provisions of the contract at the end of any contract period, such as adjusting the amount of premiums charged or coverage provided, and on contracts on which amounts are paid but insurance risk is not transferred. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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