Company: ELV
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001156039-25-000114
Chunk: 32

Company: Elevance Health, Inc.
Filing Date: 2025-07-17
Form: 10-Q
Item: Item 8
Chunk 32
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 $200 and $213 as an asset under the caption “Other current assets” and income taxes payable of $665 and $75 as a liability under the caption “Other current liabilities” in our consolidated balance sheets as of June 30, 2025 and December 31, 2024, respectively.

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9. Medical Claims Payable

A reconciliation of the beginning and ending balances for medical claims payable for the six months ended June 30, 2025 and 2024 is as follows:20252024Gross medical claims payable, beginning of period$15,580 $15,865 Ceded medical claims payable, beginning of period(13)(7)Net medical claims payable, beginning of period15,567 15,858 Business combinations and purchase adjustments182 — Net incurred medical claims:Current period71,090 60,551 Prior periods redundancies(1,065)(1,473)Total net incurred medical claims70,025 59,078 Net payments attributable to:Current period medical claims57,117 48,297 Prior periods medical claims11,802 11,584 Total net payments68,919 59,881 Net medical claims payable, end of period16,855 15,055 Ceded medical claims payable, end of period16 12 Gross medical claims payable, end of period$16,871 $15,067 At June 30, 2025, the total of net incurred but not reported liabilities plus expected development on reported claims was $14,154, $2,247 and $454 for the claim years 2025, 2024, and 2023 and prior, respectively.The favorable development recognized in the six months ended June 30, 2025 resulted from trend factors in late 2024 developing more favorably than originally expected as well as a smaller contribution from faster than expected development of completion factors from the latter part of 2024.The favorable development recognized in the six months ended June 30, 2024 resulted from faster than expected development of completion factors during the latter part of 2023, as well as trend factors in late 2023 developing more favorably than originally expected.

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The reconciliation of net incurred medical claims to benefit expense included in our consolidated statements of income for the six months ended June 30, 2025 and 2024 is as follows:20252024Net incurred medical claims with medical claims payable$67,917