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Reserves for Claims and Performance-Based Arrangements (Tables)

9 Months Ended

Sep. 30, 2024

Insurance [Abstract]

Schedule of Activity in Claims Reserves and Performance - Based Arrangements

Activity in reserves for claims and performance-based arrangements related to specialty care management services solution was as follows (in thousands):

			For the Nine Months Ended September 30,
			2024						2023
Balance, beginning of period			$	404,048					$	199,730
Incurred health care costs:
Current year to date period (1)			1,117,071						628,251
Prior year to date period			(25,897)						(36,248)
Total claims incurred			1,091,174						592,003
Claims paid related to:
Current year to date period			(829,864)						(364,709)
Prior year to date period			(352,671)						(127,282)
Total claims paid			(1,182,535)						(491,991)
Balance, end of period			$	312,687					$	299,742

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(1)Incurred health care costs related to the current year include a true-down in claims expense of $41.7 million for one of our Performance Suite customers related to a narrowed scope of services in select markets retroactive to the beginning of the year.

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- References

No definition available.

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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

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