Quarterly report pursuant to Section 13 or 15(d)

Claims Payable

v3.22.2.2
Claims Payable
6 Months Ended
Jun. 30, 2022
Claims Payable.  
Claims Payable

Note 14: Claims Payable

Claims payable includes claims reported as of the balance sheet date, including estimates for IBNR, due to third parties for health care services provided to members. IBNR was $139,322,367 and $101,958,324 at June 30, 2022 and December 31, 2021, respectively. Activity in the liability for claims payable and healthcare expenses for the six months ended June 30, 2022 and 2021, was as follows:

    

Successor

Six Months Ended

    

June 30, 2022

Claims Unpaid, Beginning of Period

$

101,958,324

Incurred, Related to:

 

  

Current Period

 

468,944,879

Prior Period(s)

 

7,097,685

Total Incurred

 

476,042,564

Paid, Related to:

 

  

Current Period

 

340,629,168

Prior Period(s)

 

98,049,353

Total Paid

 

438,678,521

Claims Unpaid Assumed in Acquisitions

 

  

Claims Unpaid, End of Period

$

139,322,367

Estimates for incurred claims are based on historical enrollment and cost trends while also taking into consideration operational changes. Future and actual results typically differ from estimates. Differences could result from an overall change in medical expenses per member, changes in member mix or simply due to the addition of new members.