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Affordable Care Act

12 Months Ended

Dec. 31, 2022

The ACA established risk spreading premium stabilization programs as well as a minimum annual MLR and cost sharing reductions.

The Company's net receivables (payables) for each of the programs are as follows ($ in millions):


	December 31, 2022		December 31, 2021
Risk adjustment receivable	$	838	$	522
Risk adjustment payable	(780)		(536)

Minimum medical loss ratio	(103)		(196)
Cost sharing reduction receivable	—		69
Cost sharing reduction payable	(99)		(42)

In June 2022, CMS announced the final risk adjustment transfers for the 2021 benefit year. As a result of the announcement, the Company increased its risk adjustment net receivables by $403 million from December 31, 2021. After consideration of minimum MLR and other related impacts, the net pre-tax benefit recognized was approximately $368 million for the year ended December 31, 2022.