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Medical Costs Payable (Notes)

9 Months Ended

Sep. 30, 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 nine months ended September 30:


(in millions)	2022		2021
Medical costs payable, beginning of period	$	24,483	$	21,872
Acquisitions	177		88
Reported medical costs:
Current year	157,601		140,052
Prior years	(350)		(1,300)
Total reported medical costs	157,251		138,752
Medical payments:
Payments for current year	(130,788)		(116,135)
Payments for prior years	(22,059)		(18,659)
Total medical payments	(152,847)		(134,794)
Medical costs payable, end of period	$	29,064	$	25,918

For the nine months ended September 30, 2022, prior years’ medical cost reserve development included no individual factors that were significant. For the nine months ended September 30, 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 $20.0 billion and $17.1 billion at September 30, 2022 and December 31, 2021, respectively.