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v3.25.4

Medical Expenses Payable (Tables) | 12 Months Ended
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Dec. 31, 2025
Insurance [Abstract] |
Schedule of Medical Expenses Payable | The following table is a detail of medical expenses payable as of December 31, 2025 and 2024:
| December 31, 2025 |  | December 31, 2024
Claims incurred but not paid | $ | 297,368 |  |  | $ | 168,357 |
Capitation and risk-sharing payable | 85,083 |  |  | 52,016 |
Other | 92,118 |  |  | 69,415 |
Medical expenses payable | $ | 474,569 |  |  | $ | 289,788 |
Schedule of Components of Change in Medical Expenses Payable | The following table presents components of the change in medical expenses payable as of December 31, 2025, 2024, and 2023 :
| December 31, 2025 |  | December 31, 2024 |  | December 31, 2023
Claims incurred but not paid - beginning balance | $ | 168,357 |  |  | $ | 95,664 |  |  | $ | 88,813 |
Incurred related to: |  |  |  |  |
Current year | 1,136,448 |  |  | 832,819 |  |  | 492,315 |
Prior years | (25,389) |  |  | (9,245) |  |  | (14,555) |
Total incurred, net of reinsurance | 1,111,059 |  |  | 823,574 |  |  | 477,760 |
Payments related to: |  |  |  |  |
Current year | 848,206 |  |  | 670,471 |  |  | 400,465 |
Prior years | 133,842 |  |  | 80,410 |  |  | 70,444 |
Total payments, net of reinsurance | 982,048 |  |  | 750,881 |  |  | 470,909 |
Claims incurred but not paid - ending balance | 297,368 |  |  | 168,357 |  |  | 95,664 |
Capitation payable, risk-sharing payable, and other | 177,201 |  |  | 121,431 |  |  | 109,735 |
Total medical expenses payable | $ | 474,569 |  |  | $ | 289,788 |  |  | $ | 205,399 |
Schedule of Information About Incurred and Paid Claims Development | The following tables provide information about incurred and paid claims development as of December 31, 2025:
| Cumulative Incurred Claims, Net of Reinsurance For the Years Ended December 31,
| 2023 |  | 2024 |  | 2025
Claims Incurred Year | (in thousands)
2023 | $ | 492,315 |  |  | 482,279 |  |  | 480,412 |
2024 |  |  | 832,819 |  |  | 809,297 |
2025 |  |  |  |  | 1,136,448 |
Total |  |  |  |  | $ | 2,426,157 |
| Cumulative Claims Paid, Net of Reinsurance For the Years Ended December 31, |  | Cumulative Number of Paid Claims(1)
| 2023 |  | 2024 |  | 2025 |  |
Claims Incurred Year | (in thousands) |  |
2023 | $ | 400,465 |  |  | 479,148 |  |  | 478,999 |  |  | 540,426
2024 |  |  | 670,471 |  |  | 804,462 |  |  | 1,036,274
2025 |  |  |  |  | 848,206 |  |  | 1,268,147
Total |  |  |  |  | $ | 2,131,667 |  |  |
(1) Cumulative number of paid claims are presented in whole amounts

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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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- Definition Tabular disclosure of undiscounted information about claims development by accident year for short-duration insurance contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4D Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4E + Details
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