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Contract Assets | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Contract Assets | Contract Assets Changes in the Company’s contract assets primarily result from the timing difference between the satisfaction of its performance obligation and the customer’s payment. The Company fulfills its obligation under a contract with a customer by transferring services in exchange for consideration from the customer. The Company recognizes contract assets when it transfers services to a customer, recognizes revenue for amounts not yet billed, and the right to consideration is conditional on something other than the passage of time. Accounts receivable are recorded when the customer has been billed or the right to consideration is unconditional. For performance obligations satisfied in previous periods, the Company evaluates and updates its profit share revenue forecast on a quarterly basis and adjusts contract assets accordingly. During the years ended December 31, 2023 and 2022, contract asset adjustments attributable to profit share revenue forecast adjustments resulted in a reduction of $22.8 million and a reduction of $5.7 million, respectively. Contract assets balances for the periods indicated below were as follows:
|  | Contract Assets
|  | Profit Share |  | TPA Fee |  | Program Fee |  | Total
|  | (in thousands)
Ending balance as of December 31, 2021 |  | $ | 105,486 |  |  | $ | 1,316 |  |  | $ | 6,154 |  |  | $ | 112,956 |
Increase of contract asset due to new business generation |  | 95,733 |  |  | 8,924 |  |  | 80,812 |  |  | 185,469 |
Adjustment of contract asset due to estimation of revenue from performance obligations satisfied in previous periods |  | (5,677) |  |  | — |  |  | — |  |  | (5,677) |
Receivables transferred from contract assets upon billing the lending institutions |  | — |  |  | — |  |  | (79,039) |  |  | (79,039) |
Payments received from insurance carriers |  | (129,740) |  |  | (8,632) |  |  | — |  |  | (138,372) |
Provision for expected credit losses |  | 87 |  |  | 1 |  |  | 5 |  |  | 93 |
Ending balance as of December 31, 2022 |  | 65,889 |  |  | 1,609 |  |  | 7,932 |  |  | 75,430 |
Increase of contract assets due to new business generation |  | 66,113 |  |  | 10,055 |  |  | 64,245 |  |  | 140,413 |
Adjustment of contract assets due to estimation of revenue from performance obligations satisfied in previous periods |  | (22,812) |  |  | — |  |  | — |  |  | (22,812) |
Receivables transferred from contract assets upon billing the lending institutions |  | — |  |  | — |  |  | (67,440) |  |  | (67,440) |
Payments received from insurance carriers |  | (86,383) |  |  | (9,942) |  |  | — |  |  | (96,325) |
Provision for expected credit losses |  | 48 |  |  | (1) |  |  | 1 |  |  | 48 |
Ending balance as of December 31, 2023 |  | $ | 22,855 |  |  | $ | 1,721 |  |  | $ | 4,738 |  |  | $ | 29,314 |
As of December 31, 2023 and 2022, the Company’s contract assets consisted of $28.7 million and $54.4 million, respectively, as the current portion estimated to be received within one year, and $0.6 million and $21.0 million, respectively, in the non-current portion to be received beyond one year. Contract Costs The fulfillment costs associated with the Company’s contracts with customers do not meet the criteria for capitalization and therefore are expensed as incurred

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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