Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 197

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 197
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 benefit accruals for these plans are frozen, but participants continue to earn interest on existing account balances. We also have a post-retirement health and welfare plan that primarily provides healthcare benefits to certain eligible employees. The majority of the pension and post-retirement plans are over funded. We fund our qualified pension plans at least sufficient to meet minimum amounts required by law. Pension and post-retirement healthcare plan expenses and valuations are dependent on assumptions used by third-party actuaries in calculating those amounts. These assumptions include discount rates, healthcare cost trends, long-term return on plan assets, retirement rates, mortality rates and other factors.The reconciliation of the benefit obligations for the plans is as follows: Pension BenefitsOther Benefits 2024202320242023Benefit obligation at beginning of year$1,393 $1,415 $255 $277 Interest cost63 68 12 14 Plan participant contributions— — 16 16 Actuarial (gain) loss(61)40 (10)(12)Settlements(27)(27)— — Benefits paid(105)(103)(35)(40)Benefit obligation at end of year$1,263 $1,393 $238 $255 

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Elevance Health, Inc.Notes to Consolidated Financial Statements (continued)

The changes in the fair value of plan assets are as follows: Pension BenefitsOther Benefits 2024202320242023Fair value of plan assets at beginning of year$1,807 $1,734 $313 $299 Actual return on plan assets83 199 29 42 Employer contributions6 4 — — Plan participant contributions— — 16 16 Settlements(27)(27)4 — Benefits paid(105)(103)(37)(44)Fair value of plan assets at end of year$1,764 $1,807 $325 $313  The amounts included in the consolidated balance sheets are as follows: Pension BenefitsOther Benefits 2024202320242023Noncurrent assets$539 $459 $87 $58 Current liabilities(4)(7)— — Noncurrent liabilities(34)(38)— — Net amount at end of year$501 $414 $87 $58 Our estimated future payments for pension benefits and other benefits are as follows: PensionBenefitsOtherBenefits2025$