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Medical Costs Payable (Notes)

3 Months Ended

Mar. 31, 2022

Short-Duration Insurance and Deposit Contracts

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)	2022		2021
Medical costs payable, beginning of period	$	24,483	$	21,872
Acquisitions	8		12
Reported medical costs:
Current year	52,813		45,914
Prior years	(290)		(1,010)
Total reported medical costs	52,523		44,904
Medical payments:
Payments for current year	(29,589)		(25,960)
Payments for prior years	(18,749)		(15,995)
Total medical payments	(48,338)		(41,955)
Medical costs payable, end of period	$	28,676	$	24,833

For the three months ended March 31, 2022, prior years medical cost reserve development included no individual factors that were significant. For the three months ended March 31, 2021, prior years’ medical cost reserve development was primarily driven by lower than expected health system utilization and the uncertainty of care patterns due to the disruption of the health care system caused by COVID-19. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $19.5 billion and $17.1 billion at March 31, 2022 and December 31, 2021, respectively.