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Medical Costs Payable (Notes) | 12 Months Ended
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Dec. 31, 2024
Insurance [Abstract] |
Medical Costs Payable | Medical Costs Payable The following table shows the components of the change in medical costs payable for the years ended December 31:
(in millions) |  | 2024 |  | 2023 |  | 2022
Medical costs payable, beginning of period |  | $ | 32,395 |  |  | $ | 29,056 |  |  | $ | 24,483 |
Acquisitions (dispositions), net |  | (755) |  |  | 1 |  |  | 308 |
Reported medical costs: |  |  |  |  |  |
Current year |  | 264,885 |  |  | 242,734 |  |  | 211,252 |
Prior years |  | (700) |  |  | (840) |  |  | (410) |
Total reported medical costs |  | 264,185 |  |  | 241,894 |  |  | 210,842 |
Medical payments: |  |  |  |  |  |
Payments for current year |  | (231,890) |  |  | (211,380) |  |  | (184,049) |
Payments for prior years |  | (29,532) |  |  | (27,176) |  |  | (22,528) |
Total medical payments |  | (261,422) |  |  | (238,556) |  |  | (206,577) |
Less: medical costs payable included within businesses held for sale |  | (179) |  |  | — |  |  | — |
Medical costs payable, end of period |  | $ | 34,224 |  |  | $ | 32,395 |  |  | $ | 29,056 |
For the years ended December 31, 2024, 2023 and 2022, prior years’ medical cost reserve development included no individual factors that were significant. Medical costs payable included IBNR of $23.7 billion and $22.3 billion at December 31, 2024 and 2023, respectively. Substantially all of the IBNR balance as of December 31, 2024 relates to the current year. The following is information about incurred and paid medical cost development as of December 31, 2024:
|  | Net Incurred Medical Costs
(in millions) |  | For the Years Ended December 31,
Year |  | 2023 |  | 2024
2023 |  | $ | 242,734 |  |  | $ | 242,156 |
2024 |  |  |  | 264,885 |
Total |  |  |  | $ | 507,041 |
|  | Net Cumulative Medical Payments
(in millions) |  | For the Years Ended December 31,
Year |  | 2023 |  | 2024
2023 |  | $ | (211,380) |  |  | $ | (240,112) |
2024 |  |  |  | (231,890) |
Total |  |  |  | (472,002) |
Net remaining outstanding liabilities prior to 2023 |  |  |  | 119 |
Acquisitions (dispositions), net |  |  |  | (755) |
Medical costs payable included within businesses held for sale |  |  |  | (179) |
Total medical costs payable |  |  |  | $ | 34,224 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4D Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 944 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/944/tableOfContent + Details
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