Company: ELV
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001156039-25-000057
Chunk: 32

Company: Elevance Health, Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 8
Chunk 32
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” in our consolidated balance sheets as of March 31, 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 three months ended March 31, 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 adjustments(85)— Net incurred medical claims:Current period35,313 30,708 Prior periods redundancies(1,025)(1,205)Total net incurred medical claims34,288 29,503 Net payments attributable to:Current period medical claims23,392 19,580 Prior periods medical claims9,863 9,606 Total net payments33,255 29,186 Net medical claims payable, end of period16,515 16,175 Ceded medical claims payable, end of period14 8 Gross medical claims payable, end of period$16,529 $16,183 At March 31, 2025, the total of net incurred but not reported liabilities plus expected development on reported claims was $11,835, $3,979 and $701 for the claim years 2025, 2024, and 2023 and prior, respectively.The favorable development recognized in the three months ended March 31, 2025 resulted from faster than expected development of completion factors from the latter part of 2024 as well as smaller but significant contribution from trend factors in late 2024 developing more favorably than originally expected.The favorable development recognized in the three months ended March 31, 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 three months ended March 31, 2025 and 2024 is as follows:20252024Net incurred medical claims with medical claims payable$33,349 $29,503 Performance-based arrangements without medical claims payable939 — Total net incurred medical claims34,288 29,503 Quality improvement and other claims