Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 33

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 33
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 365 — 365 Notes30,867 — 28,460 — 28,460 Options1,415 — — 1,873 1,873 

8.     Income Taxes

During the three months ended September 30, 2025 and 2024, we recognized income tax expense of $219 and $365, respectively, which represent effective income tax rates of 15.6% and 26.6%, respectively. During the nine months ended September 30, 2025 and 2024, we recognized income tax expense of $1,380 and 1,740, respectively, which represent effective income tax rates of 21.2% and 23.8%, respectively. The decrease in our effective income tax rate compared to the three months ended September 30, 2024 was primarily due to the impact of certain investment credits and the non-recurrence of a prior year uncertain tax position recognized during the three months ended September 30, 2024. The decrease in our effective income tax rate compared to the nine months ended September 30, 2024 was primarily due to the impact of certain investment credits.We recognized income taxes receivable of $294 and $213 as an asset under the caption “Other current assets” and income taxes payable of $141 and $75 as a liability under the caption “Other current liabilities” in our consolidated balance sheets as of September 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 nine months ended September 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 adjustments344 — Net incurred medical claims:Current period108,423 92,715 Prior periods redundancies(1,266)(1,610)Total net incurred medical claims107,157 91,105 Net payments attributable to:Current period medical claims93,545 79,220 Prior periods medical claims12,699 12,567 Total net payments106,244 91,787 Net medical claims payable, end of period16,824 15,176