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Contract Assets
 12 Months Ended
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 FeeProgram
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 generation95,733 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 losses87 1 5 93 
Ending balance as of December 31, 202265,889 1,609 7,932 75,430 
Increase of contract assets due to new business generation66,113 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 losses48 (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