Company: UHS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027785
Chunk: 242

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 242
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 2022
         
        $
        348,693

        $
        114,985

        $
        463,678

        Plus: Accrued insurance expense, net of commercial    premiums paid

        111,763

        62,960

        174,723

        Less: Payments made in settlement of self-insured claims

        (88,556
        )

        (53,429
        )

        (141,985
        )

        Balance at January 1, 2023

        371,900

        124,516

        496,416

        Plus: Accrued insurance expense, net of commercial    premiums paid

        127,445

        56,017

        183,462

        Less: Payments made in settlement of self-insured claims

        (67,860
        )

        (50,229
        )

        (118,089
        )

        Balance at January 1, 2024

        431,485

        130,304

        561,789

        Plus: Accrued insurance expense, net of commercial    premiums paid

        184,110

        70,284

        254,394

        Less: Payments made in settlement of self-insured claims

        (128,707
        )

        (63,478
        )

        (192,185
        )

        Balance at December 31, 2024
         
        $
        486,888

        $
        137,110

        $
        623,998

      Property InsuranceWe have commercial property insurance policies for our properties, covering the period of June 1, 2024 to June 1, 2025, providing property and business interruption coverage for losses in excess of $15 million per occurrence or per location (as applicable based upon the event) up to a $1 billion annual policy limitation for certain catastrophic events or perils. These commercial policies provide for coverage of up to $250 million of annual aggregate coverage for losses resulting from windstorm damage. Losses resulting from named windstorms are subject to deductibles between 3% and 5% of the total insurable value of the property.  In addition, we have commercial property insurance policies covering catastrophic losses resulting from earthquake and flood damage, each subject to aggregated loss limits (as opposed to per occurrence losses).