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Medical Costs Payable (Notes)

9 Months Ended

Sep. 30, 2021

Short-Duration Insurance and Deposit Contracts

Medical Costs Payable

The following table shows the components of the change in medical costs payable for the nine months ended September 30:


(in millions)	2021		2020
Medical costs payable, beginning of period	$	21,872	$	21,690
Acquisitions	88		186
Reported medical costs:
Current year	140,052		118,114
Prior years	(1,300)		(800)
Total reported medical costs	138,752		117,314
Medical payments:
Payments for current year	(116,135)		(98,548)
Payments for prior years	(18,659)		(19,475)
Total medical payments	(134,794)		(118,023)
Medical costs payable, end of period	$	25,918	$	21,167

For the nine months ended September 30, 2021 and September 30, 2020, prior years medical cost reserve development was primarily driven by lower than expected health system utilization. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $17.6 billion and $14.8 billion at September 30, 2021 and December 31, 2020, respectively.