0000049071-23-000011 | 10-K | XBRL Viewer

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Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-5975
Entity Registrant Name	HUMANA INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-0647538
Entity Address, Address Line One	500 West Main Street
Entity Address, City or Town	Louisville
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40202
City Area Code	502
Local Phone Number	580-1000
Title of 12(b) Security	Common stock, $0.16 2/3 par value
Trading Symbol	HUM
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 59,158,438,222
Entity Common Stock, Shares Outstanding		124,974,862
Documents Incorporated by Reference	Parts II and III incorporate herein by reference portions of the Registrant’s Definitive Proxy Statement to be filed pursuant to Regulation 14A with respect to the Annual Meeting of Stockholders scheduled to be held on April 20, 2023. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Entity Central Index Key	0000049071
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Louisville, Kentucky
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 5,061	$ 3,394
Investment securities	13,881	13,192
Receivables, net of allowances of $70 in 2022 and $83 in 2021	1,674	1,814
Other current assets	5,567	6,493
Total current assets	26,183	24,893
Property and equipment, net	3,221	3,073
Long-term investment securities	380	780
Goodwill	9,142	11,092
Equity method investments	749	141
Other long-term assets	3,380	4,379
Total assets	43,055	44,358
Current liabilities:
Benefits payable	9,264	8,289
Trade accounts payable and accrued expenses	5,238	4,509
Book overdraft	298	326
Unearned revenues	286	254
Short-term debt	2,092	1,953
Total current liabilities	17,178	15,331
Long-term debt	9,034	10,541
Other long-term liabilities	1,473	2,383
Total liabilities	27,685	28,255
Commitments and contingencies (Note 17)
Stockholders' Equity:
Preferred stock, $1 par; 10,000,000 shares authorized; none issued	0	0
Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,666,598 shares issued at December 31, 2022 and 198,648,742 shares issued at December 31, 2021	33	33
Capital in excess of par value	3,246	3,082
Retained earnings	25,492	23,086
Accumulated other comprehensive (loss) income	(1,304)	42
Treasury stock, at cost, 73,691,955 shares at December 31, 2022 and 69,846,758 shares at December 31, 2021	(12,156)	(10,163)
Total stockholders' equity	15,311	16,080
Noncontrolling interests	59	23
Total equity	15,370	16,103
Total liabilities and equity	$ 43,055	$ 44,358

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 70	$ 83
Preferred stock, par (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par (in dollars per share)	$ 0.1667	$ 0.1667
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	198,666,598	198,648,742
Treasury stock (in shares)	73,691,955	69,846,758

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Services	Health Care [Member]	Health Care [Member]	Health Care [Member]
Revenues:
Premiums	$ 87,712	$ 79,822	$ 74,186
Services	4,776	3,055	1,815
Investment income	382	187	1,154
Total revenues	92,870	83,064	77,155
Operating expenses:
Benefits	75,690	69,199	61,628
Operating costs	12,671	10,121	10,052
Depreciation and amortization	709	596	489
Total operating expenses	89,070	79,916	72,169
Income from operations	3,800	3,148	4,986
Gain on sale of KAH Hospice	(237)	0	0
Interest expense	401	326	283
Other expense (income), net	68	(532)	103
Income before income taxes and equity in net (losses) earnings	3,568	3,354	4,600
Provision for income taxes	762	485	1,307
Equity in net (losses) earnings	(4)	65	74
Net income	2,802	2,934	3,367
Net loss (income) attributable to noncontrolling interests	4	(1)	0
Net income attributable to Humana	$ 2,806	$ 2,933	$ 3,367
Basic earnings per common share (in dollars per share)	$ 22.20	$ 22.79	$ 25.47
Diluted earnings per common share (in dollars per share)	$ 22.08	$ 22.67	$ 25.31

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income attributable to Humana	$ 2,806	$ 2,933	$ 3,367
Other comprehensive income (loss):
Change in gross unrealized investment (losses) gains	(1,819)	(356)	393
Effect of income taxes	418	81	(89)
Total change in unrealized investment (losses) gains, net of tax	(1,401)	(275)	304
Reclassification adjustment for net realized losses (gains) included in investment income	72	(103)	(90)
Effect of income taxes	(17)	23	20
Total reclassification adjustment, net of tax	55	(80)	(70)
Other comprehensive (loss) income, net of tax	(1,346)	(355)	234
Comprehensive income attributable to equity method investments	0	6	1
Comprehensive income attributable to Humana	$ 1,460	$ 2,584	$ 3,602

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Total Stockholders' Equity	Total Stockholders' Equity Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Capital In Excess of Par Value	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2019					198,630
Beginning balance at Dec. 31, 2019	$ 12,037	$ (2)	$ 12,037	$ (2)	$ 33	$ 2,820	$ 17,483	$ (2)	$ 156	$ (8,455)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,367		3,367				3,367
Other comprehensive loss	235		235						235
Common stock repurchases	(1,820)		(1,820)			(263)				(1,557)
Dividends and dividend equivalents	(331)		(331)				(331)
Stock-based compensation	181		181			181
Restricted stock unit vesting (in shares)					19
Restricted stock unit vesting	0					(59)				59
Stock option exercises	61		61			26				35
Ending balance (in shares) at Dec. 31, 2020					198,649
Ending balance at Dec. 31, 2020	13,728		13,728		$ 33	2,705	20,517		391	(9,918)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,934		2,933				2,933				1
Acquisition	22										22
Other comprehensive loss	(349)		(349)						(349)
Common stock repurchases	(79)		(79)			262				(341)
Dividends and dividend equivalents	(364)		(364)				(364)
Stock-based compensation	180		180			180
Restricted stock unit vesting	0		0			(81)				81
Stock option exercises	31		31			16				15
Ending balance (in shares) at Dec. 31, 2021					198,649
Ending balance at Dec. 31, 2021	16,103		16,080		$ 33	3,082	23,086		42	(10,163)	23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,802		2,806				2,806				(4)
Distribution to noncontrolling interest holders, net	(1)										(1)
Sale of KAH Hospice	(11)										(11)
Acquisition	52										52
Other comprehensive loss	(1,346)		(1,346)						(1,346)
Common stock repurchases	(2,096)		(2,096)							(2,096)
Dividends and dividend equivalents	(400)		(400)				(400)
Stock-based compensation	216		216			216
Restricted stock unit vesting (in shares)					18
Restricted stock unit vesting	0					(78)				78
Stock option exercises	51		51			26				25
Ending balance (in shares) at Dec. 31, 2022					198,667
Ending balance at Dec. 31, 2022	$ 15,370		$ 15,311		$ 33	$ 3,246	$ 25,492		$ (1,304)	$ (12,156)	$ 59

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 2,802	$ 2,934	$ 3,367
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of KAH Hospice	(237)	0	0
Loss (gain) on investment securities, net	205	130	(838)
Gain on Kindred at Home equity method investment	0	(1,129)	0
Equity in net losses (earnings)	4	(65)	(74)
Stock-based compensation	216	180	181
Depreciation	749	640	528
Amortization	96	73	88
Impairment of property and equipment	248	0	0
(Benefit) provision for deferred income taxes	(100)	15	195
Changes in operating assets and liabilities, net of effect of businesses acquired and dispositions:
Receivables	(54)	(280)	(85)
Other assets	(463)	(491)	(581)
Benefits payable	975	104	2,139
Other liabilities	44	176	599
Unearned revenues	32	(65)	71
Other, net	70	40	49
Net cash provided by operating activities	4,587	2,262	5,639
Cash flows from investing activities
Proceeds from sale of KAH Hospice, net	2,701	0	0
Acquisitions, net of cash and cash equivalents acquired	(337)	(4,187)	(709)
Purchases of property and equipment, net	(1,120)	(1,316)	(964)
Purchases of investment securities	(6,049)	(7,197)	(9,125)
Maturities of investment securities	1,365	2,597	4,986
Proceeds from sales of investment securities	2,434	3,547	2,747
Net cash used in investing activities	(1,006)	(6,556)	(3,065)
Cash flows from financing activities
Receipts (withdrawals) from contract deposits, net	1,993	(306)	(939)
Proceeds from issuance of senior notes, net	1,982	2,984	1,088
Repayment of senior notes	(1,000)	0	(400)
(Repayments) proceeds from issuance of commercial paper, net	(376)	352	295
Proceeds from term loan	0	2,500	1,000
Repayment of term loan	(2,000)	(2,078)	(1,000)
Debt issue costs	(6)	(31)	0
Common stock repurchases	(2,096)	(79)	(1,820)
Dividends paid	(392)	(354)	(323)
Change in book overdraft	(28)	6	95
Other, net	9	21	49
Net cash (used in) provided by financing activities	(1,914)	3,015	(1,955)
Increase (decrease) in cash and cash equivalents	1,667	(1,279)	619
Cash and cash equivalents at beginning of period	3,394	4,673	4,054
Cash and cash equivalents at end of period	5,061	3,394	4,673
Supplemental cash flow disclosures:
Interest payments	354	285	258
Income tax payments, net	758	227	1,132
Details of businesses acquired in purchase transactions:
Fair value of assets acquired, net of cash acquired	460	9,804	819
Less: Fair value of liabilities assumed	(70)	(3,235)	(110)
Less: Noncontrolling interests acquired	(53)	(22)	0
Less: Remeasured existing Kindred at Home equity method investment	0	(2,360)	0
Cash paid for acquired businesses, net of cash acquired	$ 337	$ 4,187	$ 709

REPORTING ENTITY	12 Months Ended
REPORTING ENTITY	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
REPORTING ENTITY	REPORTING ENTITY Nature of Operations Humana Inc., headquartered in Louisville, Kentucky, is a leading health and well-being company committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well‐being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large. To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools, such as in‐home care, behavioral health, pharmacy services, data analytics and wellness solutions, combine to produce a simplified experience that makes health care easier to navigate and more effective. References throughout these notes to consolidated financial statements to “we,” “us,” “our,” “Company,” and “Humana,” mean Humana Inc. and its subsidiaries. We derived approximately 82% of our total premiums and services revenue from contracts with the federal government in 2022, including 14% related to our federal government contracts with the Centers for Medicare and Medicaid Services, or CMS, to provide health insurance coverage for individual Medicare Advantage members in Florida. CMS is the federal government’s agency responsible for administering the Medicare program. Business Segment Realignment During December 2022, we realigned our businesses into two distinct segments: Insurance and CenterWell. The Insurance segment includes the businesses that were previously included in the Retail and Group and Specialty segments, as well as the Pharmacy Benefit Manager, or PBM, business which was previously included in the Healthcare Services segment. The CenterWell segment (formerly Healthcare Services) represents our payor-agnostic healthcare services offerings, including pharmacy dispensing services, provider services, and home services. In addition to the new segment classifications being utilized to assess performance and allocate resources, we believe this simpler structure will create greater collaboration across the Insurance and CenterWell businesses and will accelerate work that is underway to centralize and integrate operations within the organization. Prior period segment financial information has been recast to conform to the 2022 presentation. For a recast of prior period segment financial information, refer to Note 18 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Our financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America. Our consolidated financial statements include the accounts of Humana Inc. and subsidiaries that the Company controls, including variable interest entities associated with medical practices for which we are the primary beneficiary. We do not own many of our medical practices but instead enter into exclusive management agreements with the affiliated Professional Associations, or P.A.s, that operate these medical practices. Based upon the provisions of these agreements, these affiliated P.A.s are variable interest entities and we are the primary beneficiary, and accordingly we consolidate the affiliated P.A.s. All significant intercompany balances and transactions have been eliminated.

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The areas involving the most significant use of estimates are the estimation of benefits payable, the impact of risk adjustment provisions related to our Medicare contracts, the valuation and related impairment recognition of investment securities, and the valuation and related impairment recognition of long-lived assets, including goodwill and indefinite-lived intangible assets. These estimates are based

on knowledge of current events and anticipated future events, and accordingly, actual results may ultimately differ materially from those estimates.

Value Creation Initiatives

During 2022, in order to create capacity to fund growth and investment in our Medicare Advantage business and further expansion of our healthcare services capabilities in 2023, we committed to drive additional value for the enterprise through cost saving, productivity initiatives, and value acceleration from previous investments. As a result of these initiatives, we recorded charges of $473 million included within operating costs in the consolidated statement of income for the year ended December 31, 2022. These charges primarily relate to $248 million in asset impairments, including software and abandonment, and $116 million of severance charges in connection with workforce optimization. The remainder of the charges primarily relate to external consulting fees. These charges were recorded at the corporate level and not allocated to the segments.

COVID-19

The emergence and spread of the novel coronavirus, or COVID-19, beginning in the first quarter of 2020 has impacted our business. During periods of increased incidences of COVID-19, a reduction in non-COVID-19 hospital admissions for non-emergent and elective medical care have resulted in lower overall healthcare system utilization. At the same time, COVID-19 treatment and testing costs increased utilization. During 2022, we experienced lower overall utilization of the healthcare system than anticipated, as the reduction in COVID-19 utilization following the increased incidence associated with the Omicron variant outpaced the increase in non-COVID-19 utilization. The significant disruption in utilization during 2020 also impacted our ability to implement clinical initiatives to manage health care costs and chronic conditions of our members, and appropriately document their risk profiles, and, as such, significantly affected our 2021 revenue under the risk adjustment payment model for Medicare Advantage plans. Finally, changes in utilization patterns and actions taken in 2020 and 2021 as a result of the COVID-19 pandemic, including the suspension of certain financial recovery programs for a period of time and shifting the timing of claim payments and provider capitation surplus payments, impacted our claim reserve development and operating cash flows for 2020 and 2021.

Health Care Reform

The Patient Protection and Affordable Care Act and The Health Care and Education Reconciliation Act of 2010 (which we collectively refer to as the Health Care Reform Law) enacted significant reforms to various aspects of the U.S. health insurance industry. Certain of these reforms became effective January 1, 2014, including an annual insurance industry premium-based fee. The Continuing Resolution bill, H.R. 195, enacted on January 22, 2018, included a one year suspension in 2019 of the health insurance industry fee, but the fee resumed in calendar year 2020. The Further Consolidated Appropriations Act, 2020, enacted on December 20, 2019, permanently repealed the health insurance industry fee beginning in calendar year 2021.

The annual premium-based fee on health insurers was not deductible for tax purposes. We estimated a liability for the health insurance industry fee and recorded it in full once qualifying insurance coverage was provided in the applicable calendar year in which the fee was payable with a corresponding deferred cost that was amortized ratably to expense over the same calendar year. We recorded the liability for the health insurance industry fee in trade accounts payable and accrued expenses and recorded the deferred cost in other current assets in our consolidated financial statements. We paid the health insurance industry fee in September or October of each year. We paid the federal government $1.18 billion for the annual health insurance industry fee attributed to calendar year 2020.

On November 2, 2017, we filed suit against the United States of America in the United States Court of Federal Claims, on behalf of our health plans seeking recovery from the federal government of approximately $611 million in payments under the risk corridor premium stabilization program established under Health Care Reform, for years 2014, 2015 and 2016. On April 27, 2020, the U.S. Supreme Court ruled that the government is obligated to pay the losses under this risk corridor program and that Congress did not implicitly repeal the obligation under its appropriations riders. In September 2020, we received a $609 million payment from the U.S Government pursuant

to the judgement issued by the Court of Federal Claims on July 7, 2020. The $609 million payment received from the U.S Government and approximately $31 million in related fees and expenses are reflected in Premiums revenue and Operating costs, respectively, in our consolidated statements of income for the year ended December 31, 2020 and reported in the Corporate segment.

Cash and Cash Equivalents

Cash and cash equivalents include cash, time deposits, money market funds, commercial paper, other money market instruments, and certain U.S. Government securities with an original maturity of three months or less. Carrying value approximates fair value due to the short-term maturity of the investments.

Investment Securities

Investment securities, which consist of debt and equity securities, are stated at fair value. Our debt securities have been categorized as available for sale. Debt securities available for current operations, as well as our equity securities, are classified as current assets, and debt securities available to fund our professional and other self-insurance liability requirements, as well as restricted statutory deposits, are classified as long-term assets. For the purpose of determining realized gross gains and losses for debt securities sold, that are included as a component of investment income in the consolidated statements of income, the cost of investment securities sold is based upon specific identification. Unrealized holding gains and losses for debt securities, net of applicable deferred taxes, are included in other comprehensive income or loss as a component of stockholders’ equity until realized from a sale or an expected credit loss is recognized. For the purpose of determining gross gains and losses for equity securities, changes in fair value at the reporting date are included as a component of investment income in the consolidated statements of income.

Beginning on January 1, 2020, we adopted the new current expected credit losses, or CECL, model which retained many similarities from the previous other-than-temporary impairment model except eliminating from consideration in the impairment analysis the length of time over which the fair value had been less than cost. Also, under the CECL model, expected losses on available for sale debt securities are recognized through an allowance for credit losses rather than as reductions in the amortized cost of the securities. For debt securities whose fair value is less than their amortized cost which we do not intend to sell or are not required to sell, we evaluate the expected cash flows to be received as compared to amortized cost and determine if an expected credit loss has occurred. In the event of an expected credit loss, only the amount of the impairment associated with the expected credit loss is recognized in income with the remainder, if any, of the loss recognized in other comprehensive income. To the extent we have the intent to sell the debt security or it is more likely than not we will be required to sell the debt security before recovery of our amortized cost basis, we recognize an impairment loss in income in an amount equal to the full difference between the amortized cost basis and the fair value.

Potential expected credit loss impairment is considered using a variety of factors, including the extent to which the fair value has been less than cost; adverse conditions specifically related to the industry, geographic area or financial condition of the issuer or underlying collateral of a debt security; changes in the quality of the debt security's credit enhancement; payment structure of the debt security; changes in credit rating of the debt security by the rating agencies; failure of the issuer to make scheduled principal or interest payments on the debt security and changes in prepayment speeds. For debt securities, we take into account expectations of relevant market and economic data. For example, with respect to mortgage and asset-backed securities, such data includes underlying loan level data and structural features such as seniority and other forms of credit enhancements. We estimate the amount of the expected credit loss component of a debt security as the difference between the amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate of future cash flows discounted at the implicit interest rate at the date of purchase. The expected credit loss cannot exceed the full difference between the amortized cost basis and the fair value.

Receivables and Revenue Recognition

We generally establish one-year commercial membership contracts with employer groups, subject to cancellation by the employer group on 30-day written notice. Our Medicare contracts with CMS renew annually.

Our military services contracts with the federal government and certain contracts with various state Medicaid programs generally are multi-year contracts subject to annual renewal provisions.

Premiums Revenue

We receive monthly premiums from the federal government and various states according to government specified payment rates and various contractual terms. We bill and collect premium from employer groups and members in our Medicare and other individual products monthly. Changes in premium revenues resulting from the periodic changes in risk-adjustment scores derived from medical diagnoses for our membership are estimated by projecting the ultimate annual premium and are recognized ratably during the year, with adjustments each period to reflect changes in the ultimate premium. Receivables or payables are classified as current or long-term in our consolidated balance sheet based on the timing of the expected settlement.

Premiums revenue is estimated by multiplying the membership covered under the various contracts by the contractual rates. Premiums revenue is recognized as income in the period members are entitled to receive services and is net of estimated uncollectible amounts, retroactive membership adjustments, and adjustments to recognize rebates under the minimum benefit ratios required under the Health Care Reform Law. We estimate policyholder rebates by projecting calendar year minimum benefit ratios for the small group and large group markets, as defined by the Health Care Reform Law using a methodology prescribed by Health and Human Services, or HHS, separately by state and legal entity. Medicare Advantage and Medicaid products are also subject to minimum benefit ratio requirements. Estimated calendar year rebates recognized ratably during the year are revised each period to reflect current experience. Retroactive membership adjustments result from enrollment changes not yet processed, or not yet reported by an employer group or the government. We routinely monitor the collectability of specific accounts, the aging of receivables, historical retroactivity trends, estimated rebates, as well as prevailing and anticipated economic conditions, and reflect any required adjustments in current operations. Premiums received prior to the service period are recorded as unearned revenues.

Medicare Part D

We cover prescription drug benefits in accordance with Medicare Part D under multiple contracts with CMS. The payments we receive monthly from CMS and members, which are determined from our annual bid, represent amounts for providing prescription drug insurance coverage. We recognize premiums revenue for providing this insurance coverage ratably over the term of our annual contract. Our CMS payment is subject to risk sharing through the Medicare Part D risk corridor provisions. In addition, receipts for reinsurance and low-income cost subsidies as well as receipts for certain discounts on brand name prescription drugs in the coverage gap represent payments for prescription drug costs for which we are not at risk.

The risk corridor provisions compare costs targeted in our bids to actual prescription drug costs, limited to actual costs that would have been incurred under the standard coverage as defined by CMS. Variances exceeding certain thresholds may result in CMS making additional payments to us or require us to refund to CMS a portion of the premiums we received. As risk corridor provisions are considered in our overall annual bid process, we estimate and recognize an adjustment to premiums revenue related to these provisions based upon pharmacy claims experience. We record a receivable or payable at the contract level and classify the amount as current or long-term in our consolidated balance sheets based on the timing of expected settlement.

Reinsurance and low-income cost subsidies represent funding from CMS in connection with the Medicare Part D program for which we assume no risk. Reinsurance subsidies represent funding from CMS for its portion of prescription drug costs which exceed the member’s out-of-pocket threshold, or the catastrophic coverage level. Low-income cost subsidies represent funding from CMS for all or a portion of the deductible, the coinsurance and co-payment amounts above the out-of-pocket threshold for low-income beneficiaries. Monthly prospective payments from CMS for reinsurance and low-income cost subsidies are based on assumptions submitted with our annual bid. A reconciliation and related settlement of CMS’s prospective subsidies against actual prescription drug costs we paid is made after the end of the year. The Health Care Reform Law mandates consumer discounts of 50% on brand name prescription drugs for Part D plan participants in the coverage gap. These discounts are funded by CMS and pharmaceutical manufacturers while we administer the application of these funds. We account for these subsidies

and discounts as a deposit in our consolidated balance sheets and as a financing activity under receipts (withdrawals) from contract deposits, net in our consolidated statements of cash flows.


	2022		2021		2020
	(in millions)
Part D subsidy/discount payments	$	(16,530)	$	(14,889)	$	(13,348)
Part D subsidy/discount reimbursements	18,498		14,628		12,410
Net reimbursements (payments)	$	1,968	$	(261)	$	(938)

We do not recognize premiums revenue or benefit expenses for these subsidies or discounts. Receipt and payment activity is accumulated at the contract level and recorded in our consolidated balance sheets in other current assets or trade accounts payable and accrued expenses depending on the contract balance at the end of the reporting period.

Settlement of the reinsurance and low-income cost subsidies as well as the risk corridor payment is based on a reconciliation made approximately 9 months after the close of each calendar year. Settlement with CMS for brand name prescription drug discounts is based on a reconciliation made approximately 14 to 18 months after the close of each calendar year. We continue to revise our estimates with respect to the risk corridor provisions based on subsequent period pharmacy claims data. See Note 7 for detail regarding amounts recorded to our consolidated balance sheets related to the risk corridor settlement and subsidies from CMS with respect to the Medicare Part D program.

Services Revenue

Patient services revenue

Patient services include services related to pharmacy, provider services, and home solutions services, such as home health and other services and capabilities to promote wellness and advance population health.

For our pharmacy business, external pharmacy revenues include the cost of pharmaceuticals (net of rebates), a negotiated dispensing fee and customer co-payments for drugs dispensed through our CenterWell Pharmacy (our mail- order pharmacy business), CenterWell Specialty Pharmacy, and retail pharmacies jointly located within CenterWell Senior Primary Care clinics. Pharmacy products are billed to customers based on the number of transactions occurring during the billing period. Services revenues related to product revenues from dispensing prescriptions are recorded when the prescription or product is shipped.

Our provider services business recognizes revenues for certain value-based arrangements. Under these value-based arrangements, we enter into agreements with health plans to stand ready to deliver, integrate, direct and control the administration and management of certain health care services for our patients. In exchange, we receive a premium that is typically paid on a per-member per-month basis. These value-based arrangements represent a single performance obligation where revenues are recognized in the period in which we are obligated to provide integrated health care services to our patients. Fee-for-service revenue is recognized at agreed upon rates, net of contractual allowances, as the performance obligation is completed on the date of service.

For our home solutions businesses, revenues include net patient services revenue recorded based upon established billing rates, net of contractual allowances, discounts, or other implicit price concessions, and are recognized as performance obligations are satisfied, which is in the period services are rendered.

For the year ended December 31, 2022, revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material. Further, revenue expected to be recognized in any future year related to remaining performance obligations is not material.

Administrative services fees

Administrative services fees cover the processing of claims, offering access to our provider networks and clinical programs, and responding to customer service inquiries from members of self-funded groups. Revenues from providing administration services, also known as administrative services only, or ASO, are recognized in the period services are performed and are net of estimated uncollectible amounts. ASO fees are estimated by multiplying the membership covered under the various contracts by the contractual rates. Under ASO contracts, self-funded employers retain the risk of financing substantially all of the cost of health benefits. However, many ASO customers purchase stop loss insurance coverage from us to cover catastrophic claims or to limit aggregate annual costs. Accordingly, we have recorded premiums revenue and benefits expense related to these stop loss insurance contracts. We routinely monitor the collectability of specific accounts, the aging of receivables, as well as prevailing and anticipated economic conditions, and reflect any required adjustments in current operations. ASO fees received prior to the service period are recorded as unearned revenues.

Under our TRICARE contracts with the Department of Defense (DoD) we provide administrative services, including offering access to our provider networks and clinical programs, claim processing, customer service, enrollment, and other services, while the federal government retains all of the risk of the cost of health benefits. We account for revenues under our contracts net of estimated health care costs similar to an administrative services fee only agreement. Our contracts include fixed administrative services fees and incentive fees and penalties. Administrative services fees are recognized as services are performed.

Our TRICARE members are served by both in-network and out-of-network providers in accordance with our contracts. We pay health care costs related to these services to the providers and are subsequently reimbursed by the DoD for such payments. We account for the payments of the federal government’s claims and the related reimbursements under deposit accounting in our consolidated balance sheets and as a financing activity under receipts (withdrawals) from contract deposits,net in our consolidated statements of cash flows.


	2022		2021		2020
	(in millions)
Health care cost payments	$	(7,110)	$	(6,943)	$	(6,253)
Health care cost reimbursements	7,135		6,898		6,252
Net reimbursements (payments)	$	25	$	(45)	$	(1)

Receivables

Receivables, including premium receivables, patient services revenue receivables, and ASO fee receivables, are shown net of allowances for estimated uncollectible accounts, retroactive membership adjustments, and contractual allowances.

At December 31, 2022 and 2021, accounts receivable related to services were $291 million and $475 million, respectively. For the years ended December 31, 2022, 2021 and 2020, we had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the consolidated balance sheet at December 31, 2022 and 2021.

Other Current Assets

Other current assets include amounts associated with Medicare Part D as discussed above and in Note 7, rebates due from pharmaceutical manufacturers and other amounts due within one year. We accrue pharmaceutical rebates as they are earned based on contractual terms and usage of the product. The balance of pharmaceutical rebates receivable was $2.0 billion at December 31, 2022 and 2021.

Policy Acquisition Costs

Policy acquisition costs are those costs that relate directly to the successful acquisition of new and renewal insurance policies. Such costs include commissions, costs of policy issuance and underwriting, and other costs we incur to acquire new business or renew existing business. We expense policy acquisition costs related to our employer-group prepaid health services policies as incurred. These short-duration employer-group prepaid health services policies typically have a 1-year term and may be canceled upon 30 days notice by the employer group.

Long-Lived Assets

Property and equipment is recorded at cost. Gains and losses on sales or disposals of property and equipment are included in operating costs in our consolidated income statements. Certain costs related to the development or purchase of internal-use software are capitalized. Depreciation is computed using the straight-line method over estimated useful lives ranging from 3 to 10 years for equipment, 3 to 5 years for computer software, and 10 to 20 years for buildings. Improvements to leased facilities are depreciated over the shorter of the remaining lease term or the anticipated life of the improvement.

We periodically review long-lived assets, including property and equipment and other definite-lived intangible assets, for impairment whenever adverse events or changes in circumstances indicate the carrying value of the asset may not be recoverable. Losses are recognized for a long-lived asset to be held and used in our operations when the undiscounted future cash flows expected to result from the use of the asset are less than its carrying value. We recognize an impairment loss based on the excess of the carrying value over the fair value of the asset. A long-lived asset held for sale is reported at the lower of the carrying amount or fair value less costs to sell. Depreciation expense is not recognized on assets held for sale. Losses are recognized for a long-lived asset to be abandoned when the asset ceases to be used. In addition, we periodically review the estimated lives of all long-lived assets for reasonableness.

Equity Method Investments

We use the equity method of accounting for equity investments in companies where we are able to exercise significant influence, but not control, over operating and financial policies of the investee. Judgment regarding the level of influence over each equity method investment includes considering key factors such as our ownership interest, representation on the board of directors, organizational structure, participation in policy-making decisions and material intra-entity transactions.

Generally, under the equity method, original investments in these entities are recorded at cost and subsequently adjusted by our share of equity in income or losses after the date of acquisition as well as capital contributions to and distributions from these companies. Our proportionate share of the net income or loss of these companies is included in consolidated net income. Investment amounts in excess of our share of an investee’s net assets are amortized over the life of the related asset creating the excess. Excess goodwill is not amortized.

We evaluate equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by us when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than carrying value, the investee’s financial condition and near-term prospects and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than-temporary is recognized in the period identified.

Additional detail regarding our equity method investments is included in Note 4.

Goodwill and Intangible Assets

Goodwill represents the unamortized excess of cost over the fair value of the net tangible and other intangible assets acquired. We are required to test at least annually for impairment at a level of reporting referred to as the

reporting unit, and more frequently if adverse events or changes in circumstances indicate that the asset may be impaired. A reporting unit either is our operating segments or one level below the operating segments, referred to as a component, which comprise our reportable segments. A component is considered a reporting unit if the component constitutes a business for which discrete financial information is available that is regularly reviewed by management. We aggregate the components of an operating segment into one reporting unit if they have similar economic characteristics. Goodwill is assigned to the reporting units that are expected to benefit from the specific synergies of the business combination.

We perform a quantitative assessment to review goodwill for impairment to determine both the existence and amount of goodwill impairment, if any. Impairment tests are performed, at a minimum, in the fourth quarter of each year supported by our long-range business plan and annual planning process. We rely on an evaluation of future discounted cash flows to determine fair value of our reporting units. The fair value of our reporting units with significant goodwill exceeded carrying amounts. However, unfavorable changes in key assumptions or combinations of assumptions including a significant increase in the discount rate, decrease in the long-term growth rate or substantial reduction in our underlying cash flow assumptions, including revenue growth rates, medical and operating cost trends, and projected operating income could have a significant negative impact on the estimated fair value of our home solutions and provider reporting units, which accounted for $4.3 billion and $1.1 billion of goodwill, respectively. Impairment tests completed for 2022, 2021, and 2020 did not result in an impairment loss.

Intangible assets with indefinite lives relate to Certificate of Needs (CON) and Medicare licenses acquired as part of our acquisition of Kindred at Home, or KAH, and are included within other long-term assets in the consolidated balance sheet at December 31, 2022 and December 31, 2021. See Note 3 for further information. We are required to annually compare the fair values of other indefinite-lived intangible assets to their carrying amounts. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized. Fair values of indefinite-lived intangible assets are determined based on the income approach. Impairment tests completed for 2022 did not result in a material impairment loss. These charges reflect the amount by which the carrying value exceeded its estimated fair value. Impairment tests completed for 2021 did not result in an impairment loss. The fair values of the assets were measured using Level 3 inputs, such as projected revenues and operating cash flows.

Definite-lived intangible assets primarily relate to acquired customer contracts/relationships and are included with other long-term assets in the consolidated balance sheets. Definite-lived intangible assets are amortized over the useful life generally using the straight-line method. We review definite-lived intangible assets for impairment under our long-lived asset policy.

Benefits Payable and Benefits Expense Recognition

Benefits expense includes claim payments, capitation payments, pharmacy costs net of rebates, allocations of certain centralized expenses and various other costs incurred to provide health insurance coverage to members, as well as estimates of future payments to hospitals and others for medical care and other supplemental benefits provided on or prior to the balance sheet date. Capitation payments represent monthly contractual fees disbursed to primary care and other providers who are responsible for providing medical care to members. Pharmacy costs represent payments for members’ prescription drug benefits, net of rebates from drug manufacturers. Receivables for such pharmacy rebates are included in other current assets in our consolidated balance sheets. Other supplemental benefits include dental, vision, and other supplemental health products.

We estimate the costs of our benefits expense payments using actuarial methods and assumptions based upon claim payment patterns, medical cost inflation, historical developments such as claim inventory levels and claim receipt patterns, and other relevant factors, and record benefit reserves for future payments. We continually review estimates of future payments relating to claims costs for services incurred in the current and prior periods and make necessary adjustments to our reserves.

Benefits expense is recognized in the period in which services are provided and includes an estimate of the cost of services which have been incurred but not yet reported, or IBNR. Our reserving practice is to consistently recognize the actuarial best point estimate within a level of confidence required by actuarial standards. Actuarial standards of practice generally require a level of confidence such that the liabilities established for IBNR have a greater probability of being adequate versus being insufficient, or such that the liabilities established for IBNR are sufficient to cover obligations under an assumption of moderately adverse conditions. Adverse conditions are situations in which the actual claims are expected to be higher than the otherwise estimated value of such claims at the time of the estimate. Therefore, in many situations, the claim amounts ultimately settled will be less than the estimate that satisfies the actuarial standards of practice.

We develop our estimate for IBNR using actuarial methodologies and assumptions, primarily based upon historical claim experience. Depending on the period for which incurred claims are estimated, we apply a different method in determining our estimate. For periods prior to the most recent two months, a completion factor method uses historical paid claims patterns to estimate the percentage of claims incurred during a given period that have historically been adjudicated as of the reporting period. Changes in claim inventory levels and known changes in claim payment processes are taken into account in these estimates. For the most recent two months, the incurred claims are estimated primarily from a trend analysis based upon per member per month claims trends developed from our historical experience in the preceding months, adjusted for known changes in estimates of hospital admissions, recent hospital and drug utilization data, provider contracting changes, changes in benefit levels, changes in member cost sharing, changes in medical management processes, product mix, and workday seasonality.

The completion factor method is used for the months of incurred claims prior to the most recent two months because the historical percentage of claims processed for those months is at a level sufficient to produce a consistently reliable result. Conversely, for the most recent two months of incurred claims, the volume of claims processed historically is not at a level sufficient to produce a reliable result, which therefore requires us to examine historical trend patterns as the primary method of evaluation. Changes in claim processes, including recoveries of overpayments, receipt cycle times, claim inventory levels, outsourcing, system conversions, and processing disruptions due to weather or other events affect views regarding the reasonable choice of completion factors. Claim payments to providers for services rendered are often net of overpayment recoveries for claims paid previously, as contractually allowed. Claim overpayment recoveries can result from many different factors, including retroactive enrollment activity, audits of provider billings, and/or payment errors. Changes in patterns of claim overpayment recoveries can be unpredictable and result in completion factor volatility, as they often impact older dates of service. The receipt cycle time measures the average length of time between when a medical claim was initially incurred and when the claim form was received. Increases in electronic claim submissions from providers decrease the receipt cycle time. If claims are submitted or processed on a faster (slower) pace than prior periods, the actual claim may be more (less) complete than originally estimated using our completion factors, which may result in reserves that are higher (lower) than required.

Medical cost trends potentially are more volatile than other segments of the economy. The drivers of medical cost trends include increases in the utilization of hospital facilities, physician services, new higher priced technologies and medical procedures, and new prescription drugs and therapies, as well as the inflationary effect on the cost per unit of each of these expense components. Other external factors such as government-mandated benefits or other regulatory changes, the tort liability system, increases in medical services capacity, direct to consumer advertising for prescription drugs and medical services, an aging population, lifestyle changes including diet and smoking, catastrophes, public health emergencies, epidemics and pandemics (such as the spread of COVID-19) also may impact medical cost trends. Internal factors such as system conversions, claims processing cycle times, changes in medical management practices and changes in provider contracts also may impact our ability to accurately predict estimates of historical completion factors or medical cost trends. All of these factors are considered in estimating IBNR and in estimating the per member per month claims trend for purposes of determining the reserve for the most recent two months. Additionally, we continually prepare and review follow-up studies to assess the reasonableness of the estimates generated by our process and methods over time. The results of these studies are also considered in determining the reserve for the most recent two months. Each of these factors requires significant judgment by management.

We reassess the profitability of our contracts for providing insurance coverage to our members when current operating results or forecasts indicate probable future losses. We establish a premium deficiency reserve in current operations to the extent that the sum of expected future costs, claim adjustment expenses, and maintenance costs exceeds related future premiums under contracts without consideration of investment income. For purposes of determining premium deficiencies, contracts are grouped in a manner consistent with our method of acquiring, servicing, and measuring the profitability of such contracts. Losses recognized as a premium deficiency result in a beneficial effect in subsequent periods as operating losses under these contracts are charged to the liability previously established. Because the majority of our member contracts renew annually, we would not record a material premium deficiency reserve, except when unanticipated adverse events or changes in circumstances indicate otherwise.

We believe our benefits payable are adequate to cover future claims payments required. However, such estimates are based on knowledge of current events and anticipated future events. Therefore, the actual liability could differ materially from the amounts provided.

Future policy benefits payable

Future policy benefits payable includes liabilities for long-duration insurance policies primarily related to certain blocks of insurance assumed in acquisitions, primarily life and annuities in run-off status, and are included in our consolidated balance sheet within other long-term liabilities. Most of these policies are subject to reinsurance as detailed in Note 19.

Book Overdraft

Under our cash management system, checks issued but not yet presented to banks that would result in negative bank balances when presented are classified as a current liability in the consolidated balance sheets. Changes in book overdrafts from period to period are reported in the consolidated statement of cash flows as a financing activity.

Income Taxes

We recognize an asset or liability for the deferred tax consequences of temporary differences between the tax bases of assets or liabilities and their reported amounts in the consolidated financial statements. These temporary differences will result in taxable or deductible amounts in future years when the reported amounts of the assets or liabilities are recovered or settled. We also recognize the future tax benefits such as net operating and capital loss carryforwards as deferred tax assets. A valuation allowance is provided against these deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. Future years’ tax expense may be increased or decreased by adjustments to the valuation allowance or to the estimated accrual for income taxes. Deferred tax assets and deferred tax liabilities are further adjusted for changes in the enacted tax rates.

We record tax benefits when it is more likely than not that the tax return position taken with respect to a particular transaction will be sustained. A liability, if recorded, is not considered resolved until the statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired, or the tax position is ultimately settled through examination, negotiation, or litigation. We classify interest and penalties associated with uncertain tax positions in our provision for income taxes.

Noncontrolling Interests

The consolidated financial statements include all assets, liabilities, revenues and expenses of less than 100% owned affiliates that we control. Accordingly, we record noncontrolling interests in the earnings and equity of such entities. We record adjustments to noncontrolling interests for the allocable portion of income or loss to which the noncontrolling interest holders are entitled based upon their portion of the subsidiaries they own. Distributions to holders of noncontrolling interests are adjusted to the respective noncontrolling interest holders’ balances. Noncontrolling interests, which relate to the minority ownership held by third party investors in certain of our businesses within our Insurance and CenterWell segments, are reported below net income under the heading “Net

income attributable to noncontrolling interests” in the consolidated statements of income and presented as a component of equity in the consolidated balance sheets.

Stock-Based Compensation

We generally recognize stock-based compensation expense, as determined on the date of grant at fair value, on a straight-line basis over the period during which an employee is required to provide service in exchange for the award (the vesting period). In addition, for awards with both time and performance-based conditions, we generally recognize compensation expense on a straight line basis over the vesting period when it is probable that the performance condition will be achieved. We estimate expected forfeitures and recognize compensation expense only for those awards which are expected to vest. We estimate the grant-date fair value of stock options using the Black-Scholes option-pricing model.

Additional detail regarding our stock-based compensation plans is included in Note 14.

Earnings Per Common Share

We compute basic earnings per common share on the basis of the weighted-average number of unrestricted common shares outstanding. Diluted earnings per common share is computed on the basis of the weighted-average number of unrestricted common shares outstanding plus the dilutive effect of outstanding employee stock options and restricted shares, or units, using the treasury stock method.

Additional detail regarding earnings per common share is included in Note 15.

Fair Value

Assets and liabilities measured at fair value are categorized into a fair value hierarchy based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our own assumptions about the assumptions market participants would use. The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below.

Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include securities that are traded in an active exchange market.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments as well as debt securities whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data.

Level 3 – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Level 3 includes assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques reflecting our own assumptions about the assumptions market participants would use as well as those requiring significant management judgment.

Fair value of actively traded debt and equity securities are based on quoted market prices. Fair value of other debt securities are based on quoted market prices of identical or similar securities or based on observable inputs like interest rates generally using a market valuation approach, or, less frequently, an income valuation approach and are generally classified as Level 2. Fair value of privately held investment grade debt securities are estimated using a variety of valuation methodologies, including both market and income approaches, where an observable quoted market does not exist and are generally classified as Level 3. For privately-held investment grade debt securities, such methodologies include reviewing the value ascribed to the most recent financing, comparing the security with

securities of publicly-traded companies in similar lines of business with similar credit characteristics, and reviewing the underlying financial performance including estimating discounted cash flows.

We obtain at least one price for each security from a third party pricing service. These prices are generally derived from recently reported trades for identical or similar securities, including adjustments through the reporting date based upon observable market information. When quoted prices are not available, the third party pricing service may use quoted market prices of comparable securities or discounted cash flow analysis, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include benchmark yields, reported trades, credit spreads, broker quotes, default rates, and prepayment speeds. We are responsible for the determination of fair value and as such we perform analysis on the prices received from the third party pricing service to determine whether the prices are reasonable estimates of fair value. Our analysis includes a review of monthly price fluctuations as well as a quarterly comparison of the prices received from the pricing service to prices reported by our third party investment adviser. In addition, on a quarterly basis we examine the underlying inputs and assumptions for a sample of individual securities across asset classes, credit rating levels, and various durations.

Recently Issued Accounting Pronouncements

Accounting Pronouncements Effective in Future Periods

In November 2020, the FASB issued Accounting Standards Update No. 2020-11, Financial Services—Insurance (Topic 944): Effective Date and Early Application (“ASU 2020-11”). The amendments in ASU 2020-11 make changes to the effective date and early application of Accounting Standards Update No. 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”), which was issued in November 2018. The amendments in ASU 2020-11 have extended the original effective date by one year, and now the amendments are required for our interim and annual reporting periods beginning after December 15, 2022. The new guidance relates to accounting for long-duration contracts of insurers which revises key elements of the measurement models and disclosure requirements for long-duration contracts issued by insurers, including the amortization of deferred contract acquisition costs and the measurement of liabilities for future policy benefits using current, rather than locked-in, assumptions. The new guidance, limited to our Medicare supplement product which represent less than 1% of consolidated premiums and services revenue, is effective for us beginning with annual and interim periods in 2023 and is to be applied to contracts in force on the basis of their existing carrying value amounts at the beginning of the earliest period presented. The adoption of the new standard in 2023 did not have a material impact on our consolidated results of operations, financial position and cash flows.

There are no other recently issued accounting standards that apply to us or that are expected to have a material impact on our results of operations, financial condition, or cash flows.

ACQUISITIONS AND DIVESTITURES

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS AND DIVESTITURES

On August 11, 2022, we completed the sale of a 60% interest in Humana’s Kindred at Home Hospice subsidiary, or KAH Hospice, to Clayton, Dubilier & Rice, or CD&R, for cash proceeds of approximately $2.7 billion, net of cash disposed, including debt repayments from KAH Hospice to Humana of $1.9 billion. In connection with the sale, we recognized a pre-tax gain, net of transaction costs, of $237 million which is reported as a gain on sale of KAH Hospice in the accompanying consolidated statement of income for the year ended December 31, 2022.

In June 2022, we classified KAH Hospice as held-for-sale and aggregated KAH Hospice’s assets and liabilities separately on the balance sheet. The assets, liabilities and noncontrolling interest disposed of on August 11, 2022 were as follows:



	(in millions)

Cash and cash equivalents	$	73
Receivables, net of allowances	194
Other current assets	20
Property and equipment, net	44
Goodwill	2,331
Other assets	960
Total assets	$	3,622


Trade accounts payable and accrued expenses	$	245
Other long-term liabilities	285
Total liabilities	$	530
Noncontrolling interest	$	11

Other assets included $866 million identifiable intangibles consisting of Medicare licenses and CON.

Prior to the sale of a 60% interest in KAH Hospice on August 11, 2022, as discussed above, KAH Hospice revenues and pretax earnings through the date of sale for the year ended December 31, 2022, were $958 million and $150 million, respectively. KAH Hospice revenues and pretax earnings for the year ended December 31, 2021, were $582 million and $113 million, respectively.

On August 17, 2021, we acquired the remaining 60% interest in Kindred at Home, or KAH, the nation’s largest home health and hospice provider, from TPG Capital, or TPG, and Welsh, Carson, Anderson & Stowe, or WCAS, two private equity funds, for an enterprise value of $8.2 billion, which included our equity value of $2.4 billion associated with our 40% minority ownership interest. The remeasurement to fair value of our previously held 40% equity method investment with a carrying value of approximately $1.3 billion, resulted in a $1.1 billion gain recognized in "Other (income) expense, net". We paid the approximate $5.8 billion transaction price (net of our existing equity stake) through a combination of debt financing, the assumption of existing KAH indebtedness and parent company cash. The final fair values of KAH’s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows:



	(in millions)
Cash and cash equivalents	$	278
Receivables	381
Other current assets	61
Property and equipment	74
Goodwill	5,771
Other intangible assets	2,312
Other long-term assets	172
Total assets acquired	$	9,049
Current liabilities	$	410
Long term debt	2,078
Other long-term liabilities	369
Total liabilities assumed	$	2,857
Noncontrolling interests	22
Net assets acquired	$	6,170

During 2022, 2021, and 2020 we acquired other health and wellness related businesses which other than the impacts to goodwill, individually or in the aggregate, have not had a material impact on our results of operations, financial condition, or cash flows. The results of operations and financial condition of these businesses have been included in our consolidated statements of income and consolidated balance sheets from the respective acquisition dates. Acquisition-related costs recognized in each of 2022, 2021 and 2020 were not material to our results of operations. For asset acquisitions the goodwill acquired is partially amortizable as deductible expenses for tax purposes. The pro forma financial information assuming the acquisitions had occurred as of the beginning of the calendar year prior to the year of acquisition, as well as the revenues and earnings generated during the year of acquisition, were not material for disclosure purposes.

EQUITY METHOD INVESTMENT

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

EQUITY METHOD INVESTMENT

Prior to our acquisition of KAH in August 2021, we accounted for our 40% investment in KAH using the equity method of accounting. Our share of income or loss was reported as equity in net (losses) earnings in our consolidated statements of income.

We completed the sale of a 60% interest in KAH Hospice on August 11, 2022 and account for our 40% minority ownership in hospice operations using the equity method of accounting. This investment was reflected in equity method investments in our December 31, 2022 consolidated balance sheet, with our share of income or loss reported as equity in net (losses) earnings in our consolidated statements of income.

The summarized balance sheet at December 31, 2022 and statement of income for the period beginning August 11, 2022 through December 31, 2022 of KAH Hospice were as follows:


Balance sheet	December 31, 2022

	(in millions)
Current assets	$	297
Non-current assets	3,577
Current liabilities	269
Non-current liabilities	2,219
Shareholders' equity	1,386


Statements of income
	August 11, 2022 through December 31, 2022
	(in millions)
Revenues	$	654
Expenses	652
Net income	2

Other insignificant equity method investments

In 2020, our Primary Care Organization entered into a strategic partnership with Welsh, Carson, Anderson & Stowe, or WCAS, to accelerate the expansion of our primary care model. In May 2022, we established a second strategic partnership with WCAS to develop additional centers between 2023 and 2025. As of December 31, 2022, there were 50 primary care clinics operating under the partnership and we intend to open approximately 100 additional primary clinics in future periods under the existing arrangements. In addition, the agreements include a series of put and call options through which WCAS may require us to purchase their interest in the entity, and through which we may acquire WCAS’s interest, over the next 3 to 10 years.

We have several individually immaterial equity method investments, including our strategic partnership with WCAS as described above, included within equity method investments in our consolidated balance sheets as of December 31, 2022 and 2021 with our share of income or loss reported as equity in net (losses) earnings in our consolidated statements of income for the years ended December 31, 2022, 2021 and 2020.

INVESTMENT SECURITIES

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

Investment securities classified as current and long-term were as follows at December 31, 2022 and 2021, respectively:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in millions)
December 31, 2022
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	1,093	$	1	$	(55)	$	1,039
Mortgage-backed securities	3,697		4		(471)		3,230
Tax-exempt municipal securities	765		—		(37)		728
Mortgage-backed securities:
Residential	477		—		(76)		401
Commercial	1,554		—		(155)		1,399
Asset-backed securities	1,809		1		(79)		1,731
Corporate debt securities	6,551		3		(828)		5,726
Total debt securities	$	15,946	$	9	$	(1,701)	14,254
Common stock							7
Total investment securities							$	14,261

December 31, 2021
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	611	$	1	$	(10)	$	602
Mortgage-backed securities	3,265		33		(69)		3,229
Tax-exempt municipal securities	810		33		(2)		841
Mortgage-backed securities:
Residential	373		—		(6)		367
Commercial	1,394		27		(11)		1,410
Asset-backed securities	1,346		6		(4)		1,348
Corporate debt securities	5,641		118		(59)		5,700
Total debt securities	$	13,440	$	218	$	(161)	13,497
Common stock							475
Total investment securities							$	13,972

In August 2022, we purchased certain corporate debt securities of KAH Hospice subsequent to the sale. The book value and fair value are $280 million and $278 million, respectively, at December 31, 2022.

Gross unrealized losses and fair values aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position were as follows at December 31, 2022 and 2021, respectively:


	Less than 12 months				12 months or more				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses

	(in millions)
December 31, 2022
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	512	$	(5)	$	397	$	(50)	$	909	$	(55)
Mortgage-backed securities	1,231		(104)		1,683		(367)		2,914		(471)
Tax-exempt municipal securities	64		(2)		615		(36)		679		(38)
Mortgage-backed securities:
Residential	124		(16)		274		(60)		398		(76)
Commercial	243		(13)		1,157		(142)		1,400		(155)
Asset-backed securities	620		(32)		1,011		(46)		1,631		(78)
Corporate debt securities	1,625		(98)		3,825		(730)		5,450		(828)
Total debt securities	$	4,419	$	(270)	$	8,962	$	(1,431)	$	13,381	$	(1,701)

December 31, 2021
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	201	$	(3)	$	355	$	(7)	$	556	$	(10)
Mortgage-backed securities	2,082		(49)		556		(20)		2,638		(69)
Tax-exempt municipal securities	68		(1)		34		(1)		102		(2)
Mortgage-backed securities:
Residential	358		(6)		8		—		366		(6)
Commercial	295		(4)		400		(7)		695		(11)
Asset-backed securities	530		(3)		425		(1)		955		(4)
Corporate debt securities	1,456		(28)		769		(31)		2,225		(59)
Total debt securities	$	4,990	$	(94)	$	2,547	$	(67)	$	7,537	$	(161)

Approximately 96% of our debt securities were investment-grade quality, with a weighted average credit rating of AA- by S&P at December 31, 2022. Most of the debt securities that were below investment-grade were rated BB-, the higher end of the below investment-grade rating scale. Tax-exempt municipal securities were diversified among general obligation bonds of states and local municipalities in the United States as well as special revenue bonds issued by municipalities to finance specific public works projects such as utilities, water and sewer, transportation, or education. Our general obligation bonds are diversified across the United States with no individual state exceeding 1% of our total debt securities. Our investment policy limits investments in a single issuer and requires diversification among various asset types.

Our unrealized loss from all debt securities was generated from approximately 1,625 positions out of a total of approximately 1,710 positions at December 31, 2022. All issuers of debt securities we own that were trading at an

unrealized loss at December 31, 2022 remain current on all contractual payments. After taking into account these and other factors previously described, we believe these unrealized losses primarily were caused by an increase in market interest rates in the current markets since the time the debt securities were purchased. At December 31, 2022, we did not intend to sell any debt securities with an unrealized loss position in accumulated other comprehensive income, and it is not likely that we will be required to sell these debt securities before recovery of their amortized cost basis. Additionally, we did not record any material credit allowances for debt securities that were in an unrealized loss position at December 31, 2022, 2021 or 2020.

The detail of realized gains (losses) related to investment securities and included within investment income was as follows for the years ended December 31, 2022, 2021, and 2020:


	2022		2021		2020
	(in millions)
Gross gains on investment securities	$	62	$	219	$	110
Gross losses on investment securities	(144)		(8)		(18)
Gross gains on equity securities	51		23		746
Gross losses on equity securities	(174)		(364)		—
Net recognized (losses) gains on investment securities	$	(205)	$	(130)	$	838

The gains and losses related to equity securities for the years ended December 31, 2022, 2021 and 2020 was as follows:


	2022		2021		2020
	(in millions)
Net (losses) gains recognized on equity securities during the period	$	(123)	$	(341)	$	746
Less: Net losses recognized on equity securities sold during the period	(105)		(13)		—
Unrealized (losses) gains recognized on equity securities still held at the end of the period	$	(18)	$	(328)	$	746

All purchases of and proceeds from investment securities for the year ended December 31, 2020 relate to debt securities.

The contractual maturities of debt securities available for sale at December 31, 2022, regardless of their balance sheet classification, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Amortized Cost		Fair Value
	(in millions)
Due within one year	$	529	$	525
Due after one year through five years	3,399		3,210
Due after five years through ten years	3,231		2,764
Due after ten years	1,250		994
Mortgage and asset-backed securities	7,537		6,761
Total debt securities	$	15,946	$	14,254

FAIR VALUE

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE

Financial Assets

The following table summarizes our fair value measurements at December 31, 2022 and 2021, respectively, for financial assets measured at fair value on a recurring basis:


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
	(in millions)
December 31, 2022
Cash equivalents	$	4,832	$	4,832	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	1,039		—		1,039		—
Mortgage-backed securities	3,230		—		3,230		—
Tax-exempt municipal securities	728		—		728		—
Mortgage-backed securities:
Residential	401		—		401		—
Commercial	1,399		—		1,399		—
Asset-backed securities	1,731		—		1,731		—
Corporate debt securities	5,726		—		5,625		101
Total debt securities	14,254		—		14,153		101
Common stock	7		7		—		—
Total invested assets	$	19,093	$	4,839	$	14,153	$	101

December 31, 2021
Cash equivalents	$	3,322	$	3,322	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	602		—		602		—
Mortgage-backed securities	3,229		—		3,229		—
Tax-exempt municipal securities	841		—		841		—
Mortgage-backed securities:
Residential	367		—		367		—
Commercial	1,410		—		1,410		—
Asset-backed securities	1,348		—		1,348		—
Corporate debt securities	5,700		—		5,632		68
Total debt securities	13,497		—		13,429		68
Common stock	475		475		—		—
Total invested assets	$	17,294	$	3,797	$	13,429	$	68

Our Level 3 assets had fair values of $101 million, or 0.5% of total invested assets, and $68 million, or 0.4% of total invested assets, at December 31, 2022 and 2021, respectively. During the years ended December 31, 2022 and 2021, the changes in the fair value of the assets measured using significant unobservable inputs (Level 3) were comprised of the following:


	For the year ended December 31, 2022		For the year ended December 31, 2021

	Private Placements
	(in millions)
Beginning balance at January 1	$	68	$	—
Total gains or losses:
Realized in earnings	—		—
Unrealized in other comprehensive income	(14)		(1)
Purchases	47		69
Sales	—		—
Settlements	—		—
Balance at December 31	$	101	$	68

Financial Liabilities

Our debt is recorded at carrying value in our consolidated balance sheets. The carrying value of our senior notes debt outstanding, net of unamortized debt issuance costs, was $10.0 billion at December 31, 2022 and $9.0 billion at December 31, 2021. The fair value of our senior note debt was $9.4 billion at December 31, 2022 and $10.0 billion at December 31, 2021. The fair value of our senior note debt is determined based on Level 2 inputs, including quoted market prices for the same or similar debt, or if no quoted market prices are available, on the current prices estimated to be available to us for debt with similar terms and remaining maturities. Carrying value approximates fair value for our term loans and commercial paper borrowings. The term loan and commercial paper borrowings were $1.1 billion at December 31, 2022 and $3.5 billion at December 31, 2021.

Put and Call Options Measured at Fair Value

Our put and call options associated with our equity method investments are measured at fair value each period using a Monte Carlo simulation.

Effective April 27, 2021, with the signing of the definitive agreement to acquire the remaining 60% interest of KAH, the respective put and call options were terminated. As such, the $63 million put and $440 million call fair values as of the first quarter of 2021 were reduced to zero, resulting in $377 million in other expense (income),net in our consolidated statements of income for the year ended December 31, 2021.

The put and call options fair values associated with our Primary Care Organization strategic partnership with WCAS, which are exercisable at a fixed revenue exit multiple and provide a minimum return on WCAS' investment if exercised, are measured at fair value each reporting period using a Monte Carlo simulation. The put and call options fair values, derived from the Monte Carlo simulation, were $267 million and $10 million, respectively, at December 31, 2022. The put and call options fair values, derived from the Monte Carlo simulation, were $202 million and $13 million, respectively, at December 31, 2021.

The significant unobservable inputs utilized in these Level 3 fair value measurements (and selected values) include the enterprise value, annualized volatility and credit spread. Enterprise value was derived from a discounted cash flow model, which utilized significant unobservable inputs for long-term revenue, to measure underlying cash flows, weighted average cost of capital and long term growth rate. The table below presents the assumptions used for December 31, 2022 and 2021, respectively:


	December 31, 2022		December 31, 2021
Annualized volatility	16.7% - 20.8%		22.4	%
Credit spread	1.3% - 1.5%		0.9	%
Revenue exit multiple	1.5x - 2.5x		1.5x - 2.5x
Weighted average cost of capital	11.5% - 12.5%		12.5	%
Long term growth rate	3.0	%	3.0	%

The assumptions used for annualized volatility, credit spread and weighted average cost of capital reflect the lowest and highest values where they differ significantly across the series of put and call options due to their expected exercise dates.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain assets and liabilities are measured at fair value on a non-recurring basis subject to fair value adjustment only in certain circumstances. As disclosed in Note 3, “Acquisitions”, we completed our acquisition of KAH during the third quarter of 2021. The net assets acquired and resulting goodwill and other intangible assets were recorded at fair value primarily using Level 3 inputs. The net tangible assets including receivables and accrued liabilities were recorded at their carrying value which approximated their fair value due to their short term nature. The fair value of goodwill and other intangible assets were internally estimated based on the income approach. The income approach estimates fair value based on the present value of cash flow that the assets could be expected to generate in the future. We developed internal estimates for expected cash flows in the present value calculation using inputs and significant assumptions that include historical revenues and earnings, long-term growth rate, discount rate, contributory asset charges and future tax rates, among others. The excess purchase price over the fair value of assets and liabilities acquired is recorded as goodwill.

As disclosed in Note 3, we completed the sale of a 60% interest in KAH Hospice on August 11, 2022. The carrying value of the assets and liabilities of KAH Hospice disposed approximates fair value. The amount of goodwill included in the carrying value is based on the relative fair value of KAH Hospice as compared to the total fair value of our home solutions reporting unit included within the CenterWell segment.

Other than the assets acquired and liabilities assumed in the KAH and other acquisitions in Note 3, there were no other material assets or liabilities measured at fair value on a recurring or nonrecurring basis during 2022, 2021, or 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

MEDICARE PART D

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

MEDICARE PART D

MEDICARE PART DWe cover prescription drug benefits in accordance with Medicare Part D under multiple contracts with CMS. The accompanying consolidated balance sheets include the following amounts associated with Medicare Part D as of December 31, 2022 and 2021. CMS subsidies/discounts in the table below include the reinsurance and low-income cost subsidies funded by CMS for which we assume no risk as well as brand name prescription drug discounts for Part D plan participants in the coverage gap funded by CMS and pharmaceutical manufacturers. For additional information regarding our prescription drug benefits coverage in accordance with Medicare Part D, refer to Note 2 to

the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K.


	2022				2021
	Risk Corridor Settlement		CMS Subsidies/ Discounts		Risk Corridor Settlement		CMS Subsidies/ Discounts
	(in millions)
Other current assets	$	240	$	696	$	363	$	1,894
Trade accounts payable and accrued expenses	(166)		(1,236)		(68)		(466)
Net current asset (liability)	74		(540)		295		1,428
Other long-term assets	19		—		5		—
Other long-term liabilities	(78)		—		(194)		—
Net long-term liability	(59)		—		(189)		—
Total net asset (liability)	$	15	$	(540)	$	106	$	1,428

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment was comprised of the following at December 31, 2022 and 2021.


	2022		2021
	(in millions)
Land	$	17	$	17
Buildings and leasehold improvements	1,143		1,126
Equipment	1,246		1,148
Computer software	3,951		3,656
	6,357		5,947
Accumulated depreciation	(3,136)		(2,874)
Property and equipment, net	$	3,221	$	3,073

Depreciation expense was $749 million in 2022, $640 million in 2021, and $528 million in 2020, including amortization expense for capitalized internally developed and purchased software of $525 million in 2022, $443 million in 2021, and $351 million in 2020.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The carrying amount of goodwill for our reportable segments has been retrospectively adjusted to conform to the 2022 business segment realignment as discussed in Note 1. There was no impairment. Changes in the carrying amount of goodwill for our reportable segments for the years ended December 31, 2022 and 2021 were as follows:


	Insurance		CenterWell		Total
	(in millions)
Balance at January 1, 2021	$	1,892	$	2,555	$	4,447
Acquisitions	398		6,247		6,645


Balance at December 31, 2021	2,290		8,802		11,092
Acquisitions	182		199		381
Dispositions	—		(2,331)		(2,331)

Balance at December 31, 2022	$	2,472	$	6,670	$	9,142

The following table presents details of our other intangible assets included in other long-term assets in the accompanying consolidated balance sheets at December 31, 2022 and 2021:


	Weighted Average Life	2022						2021
		Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
		(in millions)
Other intangible assets:
Certificates of need	Indefinite	$	1,132	$	—	$	1,132	$	1,771	$	—	$	1,771
Medicare licenses	Indefinite	286		—		286		522		—		522
Customer contracts/relationships	9.3 years	929		673		256		883		620		263
Trade names and technology	6.7 years	142		107		35		160		97		63
Provider contracts	11.6 years	73		63		10		72		57		15
Noncompetes and other	8.4 years	86		40		46		35		30		5
Total other intangible assets	9.1 years	$	2,648	$	883	$	1,765	$	3,443	$	804	$	2,639

Amortization expense for other intangible assets was approximately $81 million in 2022, $65 million in 2021, and $88 million in 2020.

The following table presents our estimate of amortization expense for each of the five next succeeding fiscal years:


	(in millions)
2023	$	63
2024	55
2025	53
2026	41
2027	31

LEASES

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

LEASES

We determine if a contract contains a lease by evaluating the nature and substance of the agreement. We lease facilities, computer hardware, and other furniture and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For new lease agreements, we combine lease and nonlease components for all of our asset classes.

When portions of the lease payments are not fixed or depend on an index or rate, we consider those payments to be variable in nature. Our variable lease payments include, but are not limited to, common area maintenance, taxes and insurance which are not dependent upon an index or rate. Variable lease payments are recorded in the period in which the obligation for the payment is incurred. Most leases include options to renew, with renewal terms that can extend the lease term. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Right-of-use assets included within other long-term assets in our consolidated balance sheets were $515 million and $678 million at December 31, 2022 and December 31, 2021, respectively. Operating lease liabilities included within trade accounts payable and accrued expenses in our consolidated balance sheets were $152 million and $185 million at December 31, 2022 and December 31, 2021, respectively. Additionally, operating lease liabilities included within other long-term liabilities in our consolidated balance sheets were $456 million and $546 million at

December 31, 2022 and December 31, 2021, respectively. The classification of our operating lease liabilities is based on the remaining lease term.

For the years ended December 31, 2022, 2021 and 2020, total fixed operating lease costs, excluding short-term lease costs, were $183 million, $159 million and $141 million, respectively, and are included within operating costs in our consolidated statements of income. Short-term lease costs were not material for the years ended December 31, 2022, 2021 and 2020. In addition, for the years ended December 31, 2022, 2021 and 2020, total variable operating lease costs were $101 million, $94 million and $92 million, respectively, and are included within operating costs in our consolidated statements of income.

We sublease facilities or partial facilities to third party tenants for space not used in our operations. For the years ended December 31, 2022, 2021 and 2020, sublease rental income was $52 million, $43 million and $36 million, respectively, and is included within operating costs in our consolidated statements of income.

The weighted average remaining lease term is 5.4 years with a weighted average discount rate of 3.2% at December 31, 2022 and December 31, 2021. For the years ended December 31, 2022, 2021 and 2020, cash paid for amounts included in the measurement of lease liabilities included within our operating cash flows was $191 million, $165 million and $146 million, respectively.


Maturity of Lease Liabilities	December 31, 2022
For the years ended December 31,	(in millions)
2023	$	171
2024	141
2025	114
2026	72
2027	49
After 2027	116
Total lease payments	663
Less: Interest	55
Present value of lease liabilities	$	608

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, as adjusted for collateralized borrowings, based on the information available at date of adoption or commencement date in determining the present value of lease payments.

BENEFITS PAYABLE

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

BENEFITS PAYABLE

On a consolidated basis, which represents our Insurance segment net of eliminations, activity in benefits payable was as follows for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
	(in millions)
Balances at January 1	$	8,289	$	8,143	$	6,004

Less: Reinsurance recoverables	—		—		(68)
Balances at January 1, net	8,289		8,143		5,936
Acquisitions	—		42		—
Incurred related to:
Current year	76,105		70,024		61,941
Prior years	(415)		(825)		(313)
Total incurred	75,690		69,199		61,628
Paid related to:
Current year	(67,287)		(62,149)		(54,003)
Prior years	(7,428)		(6,946)		(5,418)
Total paid	(74,715)		(69,095)		(59,421)


Balances at December 31	$	9,264	$	8,289	$	8,143

The total estimate of benefits payable for claims incurred but not reported, or IBNR, is included within the net

incurred claims amounts. At December 31, 2022, benefits payable included IBNR of approximately $5.7 billion, primarily associated with claims incurred in 2022. The cumulative number of reported claims as of December 31, 2022 was approximately 173.5 million for claims incurred in 2022, 173.3 million for claims incurred in 2021, and 149.8 million for claims incurred in 2020.

Amounts incurred related to prior years vary from previously estimated liabilities as the claims ultimately are settled. Negative amounts reported for incurred related to prior years result from claims being ultimately settled for amounts less than originally estimated (favorable development).

As previously discussed, our reserving practice is to consistently recognize the actuarial best estimate of our ultimate liability for claims. Actuarial standards require the use of assumptions based on moderately adverse experience, which generally results in favorable reserve development, or reserves that are considered redundant. We experienced favorable medical claims reserve development related to prior fiscal years of $415 million in 2022, $825 million in 2021, and $313 million in 2020.

The medical claims reserve development for 2022, 2021, and 2020 primarily reflects the consistent application of trend and completion factors estimated using an assumption of moderately adverse conditions. In addition, the higher prior year favorable development for the year ended December 31, 2021 was primarily attributable to the reversal of actions taken in 2020, including the suspension of certain financial recovery programs for a period of time impacting our claim payment patterns. The suspension during 2020 was intended to provide financial and administrative relief for providers facing unprecedented strain as a result of the COVID-19 pandemic.

Incurred and Paid Claims Development

The following discussion provides information about incurred and paid claims development as of December 31, 2022, net of reinsurance, as well as cumulative claim frequency and the total of IBNR included within the net incurred claims amounts. The information about incurred and paid claims development for the years ended December 31, 2021 and 2020 is presented as supplementary information.

Claims frequency is measured as medical fee-for-service claims for each service encounter with a unique provider identification number. Our claims frequency measure includes claims covered by deductibles as well as claims under capitated arrangements. Claim counts may vary based on product mix and the percentage of delegated capitation arrangements.

The following tables provide information about incurred and paid claims development as of December 31, 2022, net of reinsurance.


	Incurred Claims, Net of Reinsurance
	For the Years Ended December 31,
Claims Incurred Year	2020 Unaudited		2021 Unaudited		2022
	(in millions)
2020	$	61,941	$	61,258	$	61,224
2021			70,066		69,698
2022					76,105
Total					$	207,027


	Cumulative Paid Claims, Net of Reinsurance
	For the Years Ended December 31,
Claims Incurred Year	2020 Unaudited		2021 Unaudited		2022
	(in millions)
2020	$	54,003	$	60,886	$	61,224
2021			62,149		69,252
2022					67,287
Total					197,763
All outstanding benefit liabilities before 2020, net of reinsurance					N/A
Benefits payable, net of reinsurance					$	9,264

For additional information regarding our benefits payable and benefits expense recognition, refer to Note 2 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" in this Form 10-K.

INCOME TAXES

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

The provision for income taxes consisted of the following for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
	(in millions)
Current provision:
Federal	$	755	$	466	$	1,019
States and Puerto Rico	107		4		93
Total current provision	862		470		1,112
Deferred (benefit) expense	(100)		15		195
Provision for income taxes	$	762	$	485	$	1,307

The provision for income taxes was different from the amount computed using the federal statutory rate for the years ended December 31, 2022, 2021 and 2020 due to the following:


	2022		2021		2020
	(in millions)
Income tax provision at federal statutory rate	$	750	$	718	$	982
States, net of federal benefit, and Puerto Rico	49		18		63
Tax exempt investment income	(3)		(3)		(5)
Nondeductible executive compensation	30		33		19
Non-taxable KAH gain	—		(264)		—
Tax effect from sale of KAH Hospice	(72)		—		—
Health insurance industry fee	—		—		268

Other, net	8		(17)		(20)
Provision for income taxes	$	762	$	485	$	1,307

Deferred income tax balances reflect the impact of temporary differences between the tax bases of assets or liabilities and their reported amounts in our consolidated financial statements, and are stated at enacted tax rates expected to be in effect when the reported amounts are actually recovered or settled.

Principal components of our net deferred tax balances at December 31, 2022 and 2021 were as follows:


	Assets (Liabilities)
	2022		2021
	(in millions)
Net operating loss carryforward	$	105	$	291
Compensation and other accrued expense	158		186
Benefits payable	103		67
Deferred acquisition costs	43		33
Jobs tax credits	22		33
Other	16		25
Unearned revenues	7		8

Investment securities	454		—

Total deferred income tax assets	908		643
Valuation allowance	(57)		(65)
Total deferred income tax assets, net of valuation allowance	851		578
Depreciable property and intangible assets	(740)		(1,072)
Prepaid expenses	(132)		(102)
Investment securities	—		(98)
Other	(6)		(4)
Total deferred income tax liabilities	(878)		(1,276)
Total net deferred income tax liabilities	$	(27)	$	(698)

All deferred tax liabilities and assets are classified as noncurrent in our consolidated balance sheets as other long-term liabilities at December 31, 2022 and 2021.

At December 31, 2022, we had approximately $68 million of federal net operating losses and approximately $1.6 billion of state and Puerto Rico net operating losses to carry forward. A portion of these loss carryforwards, if not used to offset future taxable income, will expire from 2031 through 2038. The balance of the net operating loss carryforwards has no expiration date. Due to limitations and uncertainty regarding our ability to use some of the loss carryforwards and certain other deferred tax assets, a valuation allowance of $57 million was established. For the remainder of the net operating loss carryforwards and other cumulative temporary differences, based on our historical record of producing taxable income and profitability, we have concluded that future operating income will be sufficient to recover these deferred tax assets.

We file income tax returns in the United States and Puerto Rico. The U.S. Internal Revenue Service, or IRS, has completed its examinations of our consolidated income tax returns for 2020 and prior years. Our 2021 tax return is in the post-filing review period under the Compliance Assurance Process, or CAP. Our 2022 tax return is under advance review by the IRS under CAP. With a few exceptions, which are immaterial in the aggregate, we are no longer subject to state, local and foreign tax examinations for years before 2019. We are not aware of any material adjustments that may be proposed as a result of any ongoing or future examinations. We do not have material uncertain tax positions reflected in our consolidated balance sheets.

On August 16, 2022, the Inflation Reduction Act was signed into law. The Inflation Reduction Act includes various tax provisions, which are effective for the tax years beginning on or after January 1, 2023. There was no material impact on our consolidated financial statements at December 31, 2022.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DEBT

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

DEBT

The carrying value of debt outstanding was as follows at December 31, 2022 and 2021:


	2022		2021
	(in millions)
Short-term debt:
Commercial paper	$	595	$	955
Senior notes:
$1,500 million, 0.65% due August 3, 2023	1,497		—
$600 million, 3.15% due December 1, 2022	—		599
$400 million, 2.90% due December 15, 2022	—		399
Total senior notes	1,497		998
Total short-term debt	$	2,092	$	1,953

Long-term debt:
Senior notes:
$1,500 million, 0.65% due August 3, 2023	—		1,492
$600 million, 3.85% due October 1, 2024	599		598
$600 million, 4.50% due April 1, 2025	597		596
$750 million 1.35% due February 3, 2027	745		742
$600 million, 3.95% due March 15, 2027	597		596
$500 million, 5.75% due March 1, 2028	494		—
$750 million, 3.70% due March 23, 2029	743		—
$500 million, 3.13% due August 15, 2029	496		496
$500 million, 4.88% due April 1, 2030	495		495
$750 million, 2.15% due February 3, 2032	743		741
$750 million, 5.88% due March 1, 2033	739		—
$250 million, 8.15% due June 15, 2038	261		261
$400 million, 4.63% due December 1, 2042	396		396
$750 million, 4.95% due October 1, 2044	740		740
$400 million, 4.80% due March 15, 2047	396		395
$500 million, 3.95% due August 15, 2049	493		493
Term loans:
Term loan, due October 29, 2023	—		2,000
Delayed draw term loan, due May 28, 2024	500		500
Total long-term debt	$	9,034	$	10,541

Maturities of the short-term and long-term debt for the years ending December 31, are as follows:


For the years ending December 31,	(in millions)
2023	$	2,095
2024	1,100
2025	600
2026	—
2027	1,350
Thereafter	6,050

Senior Notes

Our senior notes, which are unsecured, may be redeemed at our option at any time at 100% of the principal amount plus accrued interest and a specified make-whole amount. The 8.15% senior notes are subject to an interest rate adjustment if the debt ratings assigned to the notes are downgraded (or subsequently upgraded). In addition, our senior notes contain a change of control provision that may require us to purchase the notes under certain circumstances.

In December 2022, we repaid $600 million aggregate principal amount of our 3.150% senior notes due on their maturity date of December 1, 2022 and $400 million aggregate principal amount of our 2.900% senior notes due on their maturity date of December 15, 2022.

In November 2022, we issued $500 million of 5.750% unsecured senior notes due March 1, 2028 and $750 million of 5.875% unsecured senior notes due March 1, 2033. Our net proceeds, reduced for the underwriters' discounts and commissions paid, were $1.2 billion. We used the net proceeds for general corporate purposes, which included the repayment of existing indebtedness.

In March 2022, we issued $750 million of 3.700% unsecured senior notes due March 23, 2029. Our net proceeds, reduced for the underwriters' discounts and commissions paid, were $744 million. We used the net proceeds for general corporate purposes, which included the repayment of existing indebtedness, including borrowings under our commercial paper program.

Delayed Draw Term Loan Credit Agreement

In May 2021, we entered into a $500 million unsecured delayed draw term loan credit agreement. Under the term loan credit agreement, loans bear interest at either LIBOR plus a spread or the base rate plus a spread. The loans under the term loan credit agreement mature on the third anniversary of the funding date. The LIBOR spread, currently 125 basis points, varies depending on our credit ratings ranging from 100.0 to 162.5 basis points. The term loan credit agreement provides for the transition from LIBOR and does not require amendment in connection with such transition.

In August 2021, we borrowed $500 million under the delayed draw term loan agreement, which was used, in combination with other debt financing, to fund the approximate $5.8 billion transaction price of Kindred at Home. The term loan credit agreement contains customary restrictive covenants and a financial covenant regarding maximum debt to capitalization of 60%, as well as customary events of default. We are in compliance with this financial covenant, with actual debt to capitalization of 42.0% as measured in accordance with the term loan credit agreement as of December 31, 2022.

We have other customary relationships, including financial advisory and banking, with some parties to the term loan agreement.

October 2021 Term Loan Agreement

On October 29, 2021, we entered into a $2.0 billion term loan credit agreement, which we refer to as the October 2021 Term Loan Agreement, with certain lending banks and other financial institutions. Proceeds of the October 2021 Term Loan Agreement were applied to finance the repayment in full of the outstanding KAH debt of $1.9 billion.

On August 16, 2022, we repaid the $2.0 billion October 2021 Term Loan Agreement without a prepayment penalty due.

Revolving Credit Agreements

In June 2021, we entered into a 5-year, $2.5 billion unsecured revolving credit agreement. Under the 5-year revolving credit agreement, at our option, we can borrow on either a competitive advance basis or a revolving credit basis. The revolving credit portion bears interest at either LIBOR plus a spread or the base rate plus a spread. The competitive advance portion of any borrowings will bear interest at market rates prevailing at the time of borrowing on either a fixed rate or a floating rate based on LIBOR, at our option. The revolving credit agreement provides for the transition from LIBOR and does not require amendment in connection with such transition.

In June 2022, we entered into a 364-day $1.5 billion unsecured revolving credit agreement (replacing the 364-day $1.5 billion unsecured revolving credit agreement entered in June 2021, which expired in accordance with its terms). Under the 364-day revolving credit agreement, at our option, we can borrow on either a competitive advance basis or a revolving credit basis. The revolving credit portion bears interest at Term SOFR or the base rate plus a spread. The competitive advance portion of any borrowings will bear interest at market rates prevailing at the time of borrowing on either a fixed rate or a floating rate based Term SOFR, at our option.

The LIBOR spread, currently 110.0 basis points under the 5-year revolving credit agreements and the SOFR spread, currently 115.0 basis points under the 364-day revolving credit agreement, varies depending on our credit ratings ranging from 91.0 to 140.0 basis points under the 5-year revolving credit agreement and from 94.0 to 135.0 basis points under the 364-day revolving credit agreement. We also pay an annual facility fee regardless of utilization. This facility fee, currently 15.0 basis points, under the 5-year revolving credit agreement and 10.0 basis points under the 364-day revolving agreement, varies depending on our credit ratings ranging from 9.0 to 22.5 basis points under the 5-year revolving credit agreement and from 6.0 to 15.0 basis points under the 364-day revolving credit agreement.

The terms of the revolving credit agreements include standard provisions related to conditions of borrowing which could limit our ability to borrow additional funds. In addition, the credit agreements contain customary restrictive covenants and a financial covenant regarding maximum debt to capitalization of 60%, as well as customary events of default. We are in compliance with this financial covenant, with actual debt to capitalization of 42.0% as measured in accordance with the revolving credit agreements as of December 31, 2022. Upon our agreement with one or more financial institutions, we may expand the aggregate commitments under the revolving credit agreements by up to $750 million in the aggregate, to a maximum of $4.75 billion, across the 5-year and 364-day revolving credit agreements.

At December 31, 2022, we had no borrowings and approximately $45 million of letters of credit outstanding under the revolving credit agreements, including those of KAH. Accordingly, as of December 31, 2022, we had $2.4 billion of remaining borrowing capacity under the 5-year revolving credit agreement and $1.5 billion of remaining borrowing capacity under the 364-day revolving credit agreement (which excludes the uncommitted $750 million of incremental loan facilities), none of which would be restricted by our financial covenant compliance requirement.

We have other customary relationships, including financial advisory and banking, with some parties to the revolving credit agreements.

Commercial Paper

Under our commercial paper program we may issue short-term, unsecured commercial paper notes privately placed on a discount basis through certain broker dealers at any time. On February 10, 2022, we increased the size of our commercial paper program to permit the issuance of commercial paper notes in an aggregate principal amount not to exceed $4 billion compared to the prior amount not to exceed $2 billion. Amounts available under the program may be borrowed, repaid and re-borrowed from time to time. The net proceeds of issuances have been and are expected to be used for general corporate purposes. The maximum principal amount outstanding at any one time during the year ended December 31, 2022 was $1,450 million, with $595 million outstanding at December 31, 2022 compared to $955 million outstanding at December 31, 2021. The outstanding commercial paper at December 31, 2022 had a weighted average annual interest rate of 4.92%.

Other Short-term Borrowings

We are a member, through one subsidiary, of the Federal Home Loan Bank of Cincinnati, or FHLB. As a member we have the ability to obtain short-term cash advances, subject to certain minimum collateral requirements. As of December 31, 2022 and December 31, 2021, we had no outstanding short-term FHLB borrowings

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Employee Savings Plan

We have defined contribution retirement savings plans covering eligible employees which include matching contributions based on the amount of our employees’ contributions to the plans. The cost of these plans amounted to approximately $286 million in 2022, $259 million in 2021, and $236 million in 2020. The Company’s cash match is invested pursuant to the participant’s contribution direction. Based on the closing price of our common stock of $512.19 on December 31, 2022, approximately 11% of the retirement and savings plan’s assets were invested in our common stock, or approximately 1.4 million shares, representing approximately 1.1% of the shares outstanding as of December 31, 2022. At December 31, 2022, approximately 5.8 million shares of our common stock were reserved for issuance under our defined contribution retirement savings plans.

Stock-Based Compensation

We have plans under which options to purchase our common stock and restricted stock units have been granted to executive officers, directors and key employees. Awards generally require both a change in control and termination of employment within 2 years of the date of the change in control to accelerate the vesting, including those granted to retirement-eligible participants.

The terms and vesting schedules for stock-based awards vary by type of grant. Generally, the awards vest upon time-based conditions. We have also granted awards to certain employees that vest upon a combination of time and performance-based conditions. The stock awards of retirement-eligible participants are generally earned ratably over the service period for each tranche. Accordingly, upon retirement the earned portion of the current tranche will continue to vest on the originally scheduled vest date and any remaining unearned portion of the award will be forfeited. Our equity award program includes a retirement provision that generally treats employees with a combination of age and years of services with the Company totaling 65 or greater, with a minimum required age of

55 and a minimum requirement of 5 years of service, as retirement-eligible. Upon exercise, stock-based compensation awards are settled with authorized but unissued company stock or treasury stock.

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2022, 2021, and 2020:


	2022		2021		2020
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	207	$	171	$	171
Stock options	9		9		10
Total stock-based compensation expense	216		180		181
Tax benefit recognized	(28)		(15)		(29)
Stock-based compensation expense, net of tax	$	188	$	165	$	152

The tax benefit recognized in our consolidated financial statements is based on the amount of compensation expense recorded for book purposes, subject to limitations on the deductibility of annual compensation in excess of $500,000 per employee as mandated by the Health Care Reform Law. The actual tax benefit realized in our tax return is based on the intrinsic value, or the excess of the market value over the exercise or purchase price, of stock options exercised and restricted stock vested during the period, subject to limitations on the deductibility of annual compensation in excess of $500,000 per employee as mandated by the Health Care Reform Law. The actual tax benefit realized for the deductions taken on our tax returns from option exercises and restricted stock vesting totaled $31 million in 2022, $28 million in 2021, and $32 million in 2020. There was no capitalized stock-based compensation expense during these years.

At December 31, 2022, there were 11.0 million shares reserved for stock award plans under the Humana Inc. 2011 Stock Incentive Plan, or 2011 Plan, and 15.3 million shares reserved for stock award plans under the Humana Inc. 2019 Stock Incentive Plan, or 2019 Plan. These reserved shares included giving effect to, under the 2011 Plan, 3.3 million shares of common stock available for future grants assuming all stock options were granted or 1.4 million shares available for future grants assuming all restricted stock were granted. These reserved shares included giving effect to, under the 2019 Plan, 11.2 million shares of common stock available for future grants assuming all stock options were granted or 3.4 million shares available for future grants assuming all restricted stock were granted. Shares may be issued from authorized but unissued company stock or treasury stock.

Restricted Stock

Restricted stock is granted with a fair value equal to the market price of our common stock on the date of grant and generally vests in equal annual tranches over a three year period from the date of grant. Certain of our restricted stock grants also include performance-based conditions generally associated with return on invested capital and strategic membership growth. Restricted stock units have forfeitable dividend equivalent rights equal to the dividend paid on common stock. The weighted-average grant date fair value of our restricted stock was $430.06 in 2022, $381.34 in 2021, and $354.66 in 2020. Activity for our restricted stock was as follows for the year ended December 31, 2022:


	Shares	Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2021	873	$	380.55
Granted	492	430.06
Vested	(449)	342.42
Forfeited	(103)	292.28
Nonvested restricted stock at December 31, 2022	813	$	429.22

Approximately 36% of the nonvested restricted stock at December 31, 2022 included performance-based conditions.

The fair value of shares vested was $244 million during 2022, $236 million during 2021, and $191 million during 2020. Total compensation expense not yet recognized related to nonvested restricted stock was $202 million at December 31, 2022. We expect to recognize this compensation expense over a weighted-average period of approximately 1.7 years. There are no other contractual terms covering restricted stock once vested.

Stock Options

Stock options are granted with an exercise price equal to the fair market value of the underlying common stock on the date of grant. Our stock plans, as approved by the Board of Directors and stockholders, define fair market value as the average of the highest and lowest stock prices reported on the composite tape by the New York Stock Exchange on a given date. Exercise provisions vary, but most options vest in whole or in part 1 to 3 years after grant and expire 7 years after grant.

The weighted-average fair value of each option granted during 2022, 2021, and 2020 is provided below. The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:


	2022			2021			2020
Weighted-average fair value at grant date	$	113.35		$	92.21		$	69.73
Expected option life (years)	3.6 years			3.7 years			4.0 years
Expected volatility	36.1		%	33.8		%	24.9		%
Risk-free interest rate at grant date	1.8		%	0.4		%	1.2		%
Dividend yield	0.7		%	0.7		%	0.7		%

We calculate the expected term for our employee stock options based on historical employee exercise behavior and base the risk-free interest rate on a traded zero-coupon U.S. Treasury bond with a term substantially equal to the option’s expected term.

The volatility used to value employee stock options is based on historical volatility. We calculate historical volatility using a simple-average calculation methodology based on daily price intervals as measured over the expected term of the option.

Activity for our option plans was as follows for the year ended December 31, 2022:


	Shares Under Option	Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2021	310	$	339.08
Granted	65	425.32
Exercised	(163)	319.27
Forfeited	(8)	370.26
Options outstanding at December 31, 2022	204	$	381.37
Options exercisable at December 31, 2022	48	$	345.90

As of December 31, 2022, outstanding stock options, substantially all of which are expected to vest, had an aggregate intrinsic value of $26 million, and a weighted-average remaining contractual term of 4.9 years. As of December 31, 2022, exercisable stock options had an aggregate intrinsic value of $8 million, and a weighted-average remaining contractual term of 4.1 years. The total intrinsic value of stock options exercised during 2022 was $32 million, compared with $18 million during 2021 and $51 million during 2020. Cash received from stock option exercises totaled $51 million in 2022, $30 million in 2021, and $61 million in 2020.

Total compensation expense not yet recognized related to nonvested options was $7 million at December 31, 2022. We expect to recognize this compensation expense over a weighted-average period of approximately 1.7 years.

EARNINGS PER COMMON SHARE COMPUTATION

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE COMPUTATION

Detail supporting the computation of basic and diluted earnings per common share was as follows for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
	(dollars in millions, except per common share results, number of shares/options in thousands)
Net income available for common stockholders	$	2,806	$	2,933	$	3,367
Weighted-average outstanding shares of common stock used to compute basic earnings per common share	126,419		128,688		132,199
Dilutive effect of:
Employee stock options	50		64		92
Restricted stock	625		644		721
Shares used to compute diluted earnings per common share	127,094		129,396		133,012
Basic earnings per common share	$	22.20	$	22.79	$	25.47
Diluted earnings per common share	$	22.08	$	22.67	$	25.31
Number of antidilutive stock options and restricted stock awards excluded from computation	205		216		238

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Dividends

The following table provides details of dividend payments, excluding dividend equivalent rights, in 2020, 2021, and 2022, under our Board approved quarterly cash dividend policy:


Payment Date	Amount per Share	Total Amount
		(in millions)
2020	$2.43	$322
2021	$2.73	$351
2022	$3.06	$390

In October 2022, the Board declared a cash dividend of $0.79 per share payable on January 27, 2023 to stockholders of record on December 30, 2022 for an aggregate amount of $98 million. In February 2023, the Board declared a cash dividend of $0.8850 per share payable on April 28, 2023 to stockholders of record on March 31, 2023. Declaration and payment of future quarterly dividends is at the discretion of our Board and may be adjusted as business needs or market conditions change.

Stock Repurchases

Our Board of Directors may authorize the purchase of our common shares. Under our share repurchase authorization, shares may have been purchased from time to time at prevailing prices in the open market, by block purchases, through plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, or in privately-negotiated transactions (including pursuant to accelerated share repurchase agreements with investment banks), subject to certain regulatory restrictions on volume, pricing, and timing.

On December 22, 2020, we entered into separate accelerated stock repurchase agreements, ("the December 2020 ASR Agreements"), with Citibank, N.A., or Citi, and JPMorgan Chase Bank, or JPM, to repurchase $1.75 billion of our common stock as part of the $3 billion repurchase program authorized by the Board of Directors on July 30, 2019. On December 23, 2020, in accordance with the December 2020 ASR Agreements, we made a payment of $1.75 billion ($875 million to Citi and $875 million to JPM) and received an initial delivery of 3.8 million shares of our common stock (1.9 million shares each from Citi and JPM). We recorded the payments to Citi and JPM as a reduction to stockholders’ equity, consisting of an $1.5 billion increase in treasury stock, which reflects the value of the initial 3.8 million shares received upon initial settlement, and a $262.5 million decrease in capital in excess of par value, which reflects the value of stock held back by Citi and JPM pending final settlement of the December 2020 ASR Agreements. Upon final settlement of the December 2020 ASR agreements with Citi and JPM on May 4, 2021 and May 5, 2021, respectively, we received an additional 0.3 million shares and 0.3 million shares, respectively, as determined by the average daily volume weighted-averages share price of our common stock during the term of the agreement, less a discount, of $400.07 and $401.49, respectively, bringing the total shares received under the December 2020 ASR agreements to 4.4 million. In addition, upon settlement we reclassified the $262.5 million value of stock initially held back by Citi and JPM from capital in excess of par value to treasury stock.

On February 18, 2021, the Board of Directors replaced the previous share repurchase authorization of up to $3 billion (of which approximately $1 billion remained unused) with a new authorization for repurchases of up to $3 billion of our common shares exclusive of shares repurchased in connection with employee stock plans, expiring as of February 18, 2024.

On January 11, 2022, we entered into separate accelerated stock repurchase agreements, the January 2022 ASR Agreements, with Mizuho Markets Americas LLC, or Mizuho, and Wells Fargo Bank, or Wells Fargo, to repurchase $1 billion of our common stock as part of the $3 billion repurchase program authorized by the Board of Directors on February 18, 2021. On January 12, 2022, in accordance with the January 2022 ASR Agreements, we made a

payment of $1 billion ($500 million to Mizuho and $500 million to Wells Fargo) and received an initial delivery of 2.2 million shares of our common stock (1.08 million shares each from Mizuho and Wells Fargo). We recorded the payments to Mizuho and Wells Fargo as a reduction to stockholders’ equity, consisting of an $850 million increase in treasury stock, which reflects the value of the initial 2.2 million shares received upon initial settlement, and a $150 million decrease in capital in excess of par value, which reflects the value of stock held back by Mizuho and Wells Fargo pending final settlement of the January 2022 ASR Agreements. Upon final settlement of the January 2022 ASR Agreements with Mizuho and Wells Fargo on March 29, 2022 and March 30, 2022, respectively, we received an additional 0.1 million shares and 0.1 million shares, respectively, as determined by the average daily volume weighted-averages share price of our common stock during the term of the agreement, less a discount, of $410.96 and $411.66, respectively, bringing the total shares received under the January 2022 ASR Agreements to 2.4 million. In addition, upon settlement we reclassified the $150 million value of stock initially held back by Mizuho and Wells Fargo from capital in excess of par value to treasury stock.

On November 2, 2022, we entered into separate accelerated stock repurchase agreements, the November 2022 ASR Agreements, with Goldman Sachs & Co. LLC, or Goldman Sachs, and Mizuho Markets Americas LLC, or Mizuho, to repurchase $1 billion of our common stock as part of the $3 billion repurchase program authorized by the Board of Directors on February 18, 2021. In accordance with the November 2022 ASR Agreements, we made a payment of $1 billion ($500 million to Goldman Sachs on November 3, 2022 and $500 million to Mizuho on November 4, 2022) and received an initial delivery of 1.5 million shares of our common stock (0.760 million shares each from Goldman Sachs and Mizuho). We recorded the payments to Goldman Sachs and Mizuho as a reduction to stockholders’ equity, consisting of an $850 million increase in treasury stock, which reflects the value of the initial 1.5 million shares received upon initial settlement, and a $150 million decrease in capital in excess of par value, which reflects the value of stock held back by Goldman Sachs and Mizuho pending final settlement of the November 2022 ASR Agreements. Upon final settlement of the November 2022 ASR Agreements with Goldman Sachs and Mizuho on December 15, 2022 and December 16, 2022, respectively, we received an additional 0.177 million shares and 0.177 million shares, respectively, as determined by the average daily volume weighted-averages share price of our common stock during the term of the agreement, less a discount, of $534.16 and $533.87, respectively, bringing the total shares received under the November 2022 ASR Agreements to 1.8 million. In addition, upon settlement we reclassified the $150 million value of stock initially held back by Goldman Sachs and Mizuho from capital in excess of par value to treasury stock.

On February 15, 2023, the Board of Directors replaced the previous share repurchase authorization of up to $3 billion (of which approximately $1 billion remained unused) with a new authorization for repurchases of up to $3 billion of our common shares exclusive of shares repurchased in connection with employee stock plans, expiring as of February 15, 2026.

Excluding shares acquired in connection with employee stock plans, share repurchases were as follows during the years ended December 31, 2022, 2021 and 2020:


		2022			2021			2020
Authorization Date	Purchase Not to Exceed	Shares	Cost		Shares	Cost		Shares	Cost
	(in millions)
February 2021	3,000	4.30	$	2,000	—	$	—	—	$	—
July 2019	3,000	—	—		—	—		3.80	1,750
Total repurchases		4.30	$	2,000	—	$	—	3.80	$	1,750

In connection with employee stock plans, we acquired 0.2 million common shares for $96 million in 2022, 0.2 million common shares for $79 million in 2021, and 0.2 million common shares for $70 million in 2020.

For additional information regarding our stockholders' equity, refer to Note 16 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" in our 2021 Form 10-K.

Regulatory Requirements

Certain of our subsidiaries operate in states that regulate the payment of dividends, loans, or other cash transfers to Humana Inc., our parent company, and require minimum levels of equity as well as limit investments to approved securities. The amount of dividends that may be paid to Humana Inc. by these subsidiaries, without prior approval by state regulatory authorities, or ordinary dividends, is limited based on the entity’s level of statutory income and statutory capital and surplus. If the dividend, together with other dividends paid within the preceding twelve months, exceeds a specified statutory limit or is paid from sources other than earned surplus, it is generally considered an extraordinary dividend requiring prior regulatory approval. In most states, prior notification is provided before paying a dividend even if approval is not required.

Although minimum required levels of equity are largely based on premium volume, product mix, and the quality of assets held, minimum requirements vary significantly at the state level. Our state regulated insurance subsidiaries had aggregate statutory capital and surplus of approximately $11.3 billion and $9.6 billion as of December 31, 2022 and 2021, respectively, which exceeded aggregate minimum regulatory requirements of $8.4 billion and $7.6 billion, respectively. The amount of ordinary dividends that may be paid to our parent company in 2023 is approximately $1.8 billion in the aggregate. The amount, timing and mix of ordinary and extraordinary dividend payments will vary due to state regulatory requirements, the level of excess statutory capital and surplus and expected future surplus requirements related to, for example, premium volume and product mix. Actual dividends that were paid to our parent company were approximately $1.3 billion in 2022, $1.6 billion in 2021, and $1.3 billion in 2020.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

COMMITMENTS, GUARANTEES AND CONTINGENCIES	12 Months Ended
COMMITMENTS, GUARANTEES AND CONTINGENCIES	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, GUARANTEES AND CONTINGENCIES	COMMITMENTS, GUARANTEES AND CONTINGENCIES Purchase Obligations We have agreements to purchase services, primarily information technology related services, or to make improvements to real estate, in each case that are enforceable and legally binding on us and that specify all significant terms, including: fixed or minimum levels of service to be purchased; fixed, minimum or variable price provisions; and the appropriate timing of the transaction. We have purchase obligation commitments of $687 million in 2023, $451 million in 2024, $288 million in 2025, $236 million in 2026, and $153 million in 2027. Purchase obligations exclude agreements that are cancellable without penalty. Off-Balance Sheet Arrangements As part of our ongoing business, we do not participate or knowingly seek to participate in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities, or SPEs, which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. As of December 31, 2022, we were not involved in any SPE transactions. Guarantees and Indemnifications Through indemnity agreements approved by the state regulatory authorities, certain of our regulated subsidiaries generally are guaranteed by Humana Inc., our parent company, in the event of insolvency for (1) member coverage for which premium payment has been made prior to insolvency; (2) benefits for members then hospitalized until discharged; and (3) payment to providers for services rendered prior to insolvency. Our parent also has guaranteed the obligations of certain of our non-regulated subsidiaries and funding to maintain required statutory capital levels of certain regulated subsidiaries. In the ordinary course of business, we enter into contractual arrangements under which we may agree to indemnify a third party to such arrangement from any losses incurred relating to the services they perform on behalf of us, or for losses arising from certain events as defined within the particular contract, which may include, for example, litigation or claims relating to past performance. Such indemnification obligations may not be subject to maximum loss clauses. Historically, payments made related to these indemnifications have been immaterial. Government Contracts Our Medicare products, which accounted for approximately 81% of our total premiums and services revenue for the year ended December 31, 2022, primarily consisted of products covered under the Medicare Advantage and Medicare Part D Prescription Drug Plan contracts with the federal government. These contracts are renewed generally for a calendar year term unless CMS notifies us of its decision not to renew by May 1 of the calendar year in which the contract would end, or we notify CMS of our decision not to renew by the first Monday in June of the calendar year in which the contract would end. All material contracts between Humana and CMS relating to our Medicare products have been renewed for 2023, and all of our product offerings filed with CMS for 2023 have been approved. CMS uses a risk-adjustment model which adjusts premiums paid to Medicare Advantage, or MA, plans according to health status of covered members. The risk-adjustment model, which CMS implemented pursuant to the Balanced Budget Act of 1997 (BBA) and the Benefits Improvement and Protection Act of 2000 (BIPA), generally pays more where a plan's membership has higher expected costs. Under this model, rates paid to MA plans are based on actuarially determined bids, which include a process whereby our prospective payments are based on our estimated cost of providing standard Medicare-covered benefits to an enrollee with a "national average risk profile." That baseline payment amount is adjusted to account for certain demographic characteristics and health status of our enrolled members. Under the risk-adjustment methodology, all MA plans must collect from providers and submit the necessary diagnosis code information to CMS within prescribed deadlines. The CMS risk-adjustment model uses the diagnosis data, collected from providers, to calculate the health status-related risk-adjusted premium payment to MA plans, which CMS further adjusts for coding pattern differences between the health plans and the government fee-for-service (FFS) program. We generally rely on providers, including certain providers in our network who are our employees, to code their claim submissions with appropriate diagnoses, which we send to CMS as the basis for our health status-adjusted payment received from CMS under the actuarial risk-adjustment model. We also rely on these providers to document appropriately all medical data, including the diagnosis data submitted with claims. In addition, we conduct medical record reviews as part of our data and payment accuracy compliance efforts, to more accurately reflect diagnosis conditions under the risk adjustment model. CMS and the Office of the Inspector General of Health and Human Services, or HHS-OIG, perform audits of various companies’ risk adjustment diagnosis data submissions. We refer to these audits as Risk-Adjustment Data Validation Audits, or RADV audits. RADV audits review medical records in an attempt to validate provider medical record documentation and coding practices that influence the calculation of health status-related premium payments to MA plans. In 2012, CMS released an MA contract-level RADV methodology that would extrapolate the results of each CMS RADV audit sample to the audited MA contract’s entire health status-related risk adjusted premium amount for the year under audit. In doing so, CMS recognized “that the documentation standard used in RADV audits to determine a contract’s payment error (medical records) is different from the documentation standard used to develop the Part C risk-adjustment model (FFS claims).” To correct for this difference, CMS stated that it would apply a “Fee-for-Service Adjuster (FFS Adjuster)” as “an offset to the preliminary recovery amount.” This adjuster would be “calculated by CMS based on a RADV-like review of records submitted to support FFS claims data.” CMS stated that this methodology would apply to audits beginning with PY 2011. Humana relied on CMS’s 2012 guidance in submitting MA bids to CMS. Humana also launched a “Self-Audits” program in 2013 that applied CMS’s 2012 RADV audit methodology and included an estimated FFS Adjuster. Humana completed Self-Audits for PYs 2011-2016 and reported results to CMS. In October 2018, however, CMS issued a proposed rule announcing possible changes to the RADV audit methodology, including elimination of the FFS Adjuster. CMS proposed applying its revised methodology, including extrapolated recoveries without application of a FFS Adjuster, to RADV audits dating back to PY 2011. On January 30, 2023, CMS published a final rule related to the RADV audit methodology (Final RADV Rule). The Final RADV Rule confirmed CMS’s decision to eliminate the FFS Adjuster. The Final RADV Rule states CMS’s intention to extrapolate results from CMS and HHS-OIG RADV audits beginning with PY 2018, rather than PY 2011 as proposed. However, CMS’s Final RADV Rule does not adopt a specific sampling, extrapolation or audit methodology. CMS instead stated its general plan to rely on “any statistically valid method . . . that is determined to be well-suited to a particular audit.” Humana is considering its legal options with respect to CMS’s changed position on the FFS Adjuster and seeking clarity regarding our compliance obligations in light of the Final RADV Rule. We believe that the Final RADV Rule fails to address adequately the statutory requirement of actuarial equivalence. Further, Humana’s actuarially certified bids through PY 2023 preserved Humana’s position that CMS should apply an FFS Adjuster in any RADV audit that CMS intends to extrapolate. We expect CMS to apply the Final RADV Rule, including the first application of extrapolated audit results to determine audit settlements without a FFS Adjuster, to CMS and HHS-OIG RADV audits conducted for PY 2018 and subsequent years. The Final RADV Rule, including the lack of a FFS Adjuster, and any related regulatory, industry or company reactions, could have a material adverse effect on our results of operations, financial position, or cash flows. In addition, as part of our internal compliance efforts, we routinely perform ordinary course reviews of our internal business processes related to, among other things, our risk coding and data submissions in connection with the risk adjustment model. These reviews may also result in the identification of errors and the submission of corrections to CMS that may, either individually or in the aggregate, be material. As such, the result of these reviews may have a material adverse effect on our results of operations, financial position, or cash flows. As we explore our legal options and compliance obligations, we remain committed to working alongside CMS to promote the integrity of the MA program as well as affordability and cost certainty for our members. It is critical that MA plans are paid accurately and that payment model principles, including the application of a FFS Adjuster, are in accordance with the requirements of the Social Security Act, which, if not implemented correctly could have a material adverse effect on our results of operations, financial position, or cash flows. Our state-based Medicaid business accounted for approximately 6% of our total premiums and services revenue for the year ended December 31, 2022 primarily serving members enrolled in Medicaid, and in certain circumstances members who qualify for both Medicaid and Medicare, under contracts with various states. Our military services business, which accounted for approximately 1% of our total premiums and services revenue for the year ended December 31, 2022, primarily consisted of the TRICARE T2017 East Region contract. The T2017 East Region contract comprises 32 states and approximately six million TRICARE beneficiaries, under which delivery of health care services commenced on January 1, 2018. The T2017 East Region contract, which was originally set to expire on December 31, 2022, was subsequently extended by the DoD and is currently scheduled to expire on December 31, 2023, unless further extended. In December 2022, we were awarded the next generation of TRICARE Managed Care Support Contracts, or T-5, for the TRICARE East Region by the Defense Health Agency of the DoD. The contract is expected to go into effect in 2024. Until then the T2017 contract remains in place. Under the terms of the award, our service area covers approximately 4.6 million beneficiaries in a region consisting of 24 states and Washington, D.C. The length of the contract is one base year with eight annual option periods, which, if all options are exercised, would result in a total contract length of nine years. The loss of any of the contracts above or significant changes in these programs as a result of legislative or regulatory action, including reductions in premium payments to us, regulatory restrictions on profitability, including reviews by regulatory bodies that may compare our Medicare Advantage profitability to our non-Medicare Advantage business profitability, or compare the profitability of various products within our Medicare Advantage business, and require that they remain within certain ranges of each other, or increases in member benefits or member eligibility criteria without corresponding increases in premium payments to us, may have a material adverse effect on our results of operations, financial position, and cash flows. Legal Proceedings and Certain Regulatory Matters As previously disclosed, the Civil Division of the United States Department of Justice provided us with an information request in December 2014, concerning our Medicare Part C risk adjustment practices. The request relates to our oversight and submission of risk adjustment data generated by providers in our Medicare Advantage network, as well as to our business and compliance practices related to risk adjustment data generated by our providers and by us, including medical record reviews conducted as part of our data and payment accuracy compliance efforts, the use of health and well-being assessments, and our fraud detection efforts. We believe that this request for information is in connection with a wider review of Medicare Risk Adjustment generally that includes a number of Medicare Advantage plans, providers and vendors. We cooperated with the Department of Justice, and we have not heard from the Department of Justice on this matter since 2020. As previously disclosed, on January 19, 2016, an individual filed a qui tam suit captioned United States of America ex rel. Steven Scott v. Humana, Inc., in United States District Court, Central District of California, Western Division. The complaint alleges certain civil violations by us in connection with the actuarial equivalence of the plan benefits under Humana’s Basic PDP plan, a prescription drug plan offered by us under Medicare Part D. The action seeks damages and penalties on behalf of the United States under the False Claims Act. The court ordered the qui tam action unsealed on September 13, 2017, so that the relator could proceed, following notice from the U.S. Government that it was not intervening at that time. On January 29, 2018, the suit was transferred to the United States District Court, Western District of Kentucky, Louisville Division. We have substantially completed discovery with the relator who has pursued the matter on behalf of the United States following its unsealing. On March 31, 2022, the Court denied the parties' Motions for Summary Judgement. We take seriously our obligations to comply with applicable CMS requirements and actuarial standards of practice, and continue to vigorously defend against these allegations. Other Lawsuits and Regulatory Matters Our current and past business practices are subject to review or other investigations by various state insurance and health care regulatory authorities and other state and federal regulatory authorities. These authorities regularly scrutinize the business practices of health insurance, health care delivery and benefits companies. These reviews focus on numerous facets of our business, including claims payment practices, statutory capital requirements, provider contracting, risk adjustment, competitive practices, commission payments, privacy issues, utilization management practices, pharmacy benefits, access to care, sales practices, and provision of care by our healthcare services businesses, among others. Some of these reviews have historically resulted in fines imposed on us and some have required changes to some of our practices. We continue to be subject to these reviews, which could result in additional fines or other sanctions being imposed on us or additional changes in some of our practices. We also are involved in various other lawsuits that arise, for the most part, in the ordinary course of our business operations, certain of which may be styled as class-action lawsuits. Among other matters, this litigation may include employment matters, claims of medical malpractice, bad faith, nonacceptance or termination of providers, anticompetitive practices, improper rate setting, provider contract rate and payment disputes, including disputes over reimbursement rates required by statute, disputes arising from competitive procurement process, general contractual matters, intellectual property matters, and challenges to subrogation practices. Under state guaranty assessment laws, including those related to state cooperative failures in the industry, we may be assessed (up to prescribed limits) for certain obligations to the policyholders and claimants of insolvent insurance companies that write the same line or lines of business as we do. As a government contractor, we may also be subject to false claims litigation, such as qui tam lawsuits brought by individuals who seek to sue on behalf of the government, alleging that the government contractor submitted false claims to the government or related overpayments from the government, including, among other allegations, those resulting from coding and review practices under the Medicare risk adjustment model. Qui tam litigation is filed under seal to allow the government an opportunity to investigate and to decide if it wishes to intervene and assume control of the litigation. If the government does not intervene, the individual may continue to prosecute the action on his or her own, on behalf of the government. We also are subject to other allegations of nonperformance of contractual obligations to providers, members, and others, including failure to properly pay claims, improper policy terminations, challenges to our implementation of the Medicare Part D prescription drug program and other litigation. A limited number of the claims asserted against us are subject to insurance coverage. Personal injury claims, claims for extra contractual damages, care delivery malpractice, and claims arising from medical benefit denials are covered by insurance from our wholly owned captive insurance subsidiary and excess carriers, except to the extent that claimants seek punitive damages, which may not be covered by insurance in certain states in which insurance coverage for punitive damages is not permitted. In addition, insurance coverage for all or certain forms of liability has become increasingly costly and may become unavailable or prohibitively expensive in the future. We record accruals for the contingencies discussed in the sections above to the extent that we conclude it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. No estimate of the possible loss or range of loss in excess of amounts accrued, if any, can be made at this time regarding the matters specifically described above because of the inherently unpredictable nature of legal proceedings, which also may be exacerbated by various factors, including: (i) the damages sought in the proceedings are unsubstantiated or indeterminate; (ii) discovery is not complete; (iii) the proceeding is in its early stages; (iv) the matters present legal uncertainties; (v) there are significant facts in dispute; (vi) there are a large number of parties (including where it is uncertain how liability, if any, will be shared among multiple defendants); or (vii) there is a wide range of potential outcomes. The outcome of any current or future litigation or governmental or internal investigations, including the matters described above, cannot be accurately predicted, nor can we predict any resulting judgments, penalties, fines or other sanctions that may be imposed at the discretion of federal or state regulatory authorities or as a result of actions by third parties. Nevertheless, it is reasonably possible that any such outcome of litigation, judgments, penalties, fines or other sanctions could be substantial, and the outcome of these matters may have a material adverse effect on our results of operations, financial position, and cash flows, and may also affect our reputation.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

During December 2022, we realigned our businesses into two distinct segments: Insurance and CenterWell. The Insurance segment includes the businesses that were previously included in the Retail and Group and Specialty segments, as well as the Pharmacy Benefit Manager, or PBM, business which was previously included in the Healthcare Services segment. The CenterWell segment (formerly Healthcare Services) represents our payor-agnostic healthcare services offerings, including pharmacy dispensing services, provider services, and home services. In addition to the new segment classifications being utilized to assess performance and allocate resources, we believe this simpler structure will create greater collaboration across the Insurance and CenterWell businesses and will accelerate work that is underway to centralize and integrate operations within the organization. Prior period segment financial information has been recast to conform to the 2022 presentation.

Our two reportable segments, Insurance and CenterWell, are based on a combination of the type of health plan customer and adjacent businesses centered on well-being solutions for our health plans and other customers, as described below. These segment groupings are consistent with information used by our Chief Executive Officer, the Chief Operating Decision Maker, to assess performance and allocate resources.

The Insurance segment consists of Medicare benefits, marketed to individuals or directly via group Medicare accounts, as well as our contract with CMS to administer the Limited Income Newly Eligible Transition, or LI-NET, prescription drug plan program and contracts with various states to provide Medicaid, dual eligible demonstration, and Long-Term Support Services benefits, which we refer to collectively as our state-based contracts. This segment also includes products consisting of employer group commercial fully-insured medical and specialty health

insurance benefits marketed to individuals and employer groups, including dental, vision, and other supplemental health benefits, as well as administrative services only, or ASO. In addition, our Insurance segment includes our military services business, primarily our T-2017 East Region contract, as well as the operations of our PBM business.

The CenterWell segment includes our pharmacy, provider services, and home solutions operations. The segment also includes our strategic partnerships with WCAS to develop and operate senior-focused, payor-agnostic, primary care centers, as well as our minority ownership interest in hospice operations. Services offered by this segment are designed to enhance the overall healthcare experience. These services may lead to lower utilization associated with improved member health and/or lower drug costs.

Our CenterWell intersegment revenues primarily relate to the operations of CenterWell Pharmacy (our mail- order pharmacy business), CenterWell Specialty Pharmacy, and retail pharmacies jointly located within CenterWell Senior Primary Care clinics.

In addition, our CenterWell intersegment revenues includes revenues earned by certain owned providers (CenterWell Senior Primary Care) derived from certain value-based arrangements with our health plans. Under these value-based arrangements, our owned providers enter into agreements with our health plans to stand ready to deliver, integrate, direct and control the administration and management of certain health care services for our members. In exchange, the owned provider receives a premium that is typically paid on a per-member per-month basis. These value-based arrangements represent a single performance obligation where revenues are recognized in the period in which we are obligated to provide integrated health care services to our members. Fee-for-service revenue is recognized at agreed upon rates, net of contractual allowances, as the performance obligation is completed on the date of service.

We present our consolidated results of operations from the perspective of the health plans. As a result, the cost of providing benefits to our members, whether provided via a third party provider or internally through a stand-alone subsidiary, is classified as benefits expense and excludes the portion of the cost for which the health plans do not bear responsibility, including member co-share amounts and government subsidies of $19.7 billion in 2022, $18.1 billion in 2021, and $16.5 billion in 2020. In addition, depreciation and amortization expense associated with certain businesses delivering benefits to our members, primarily associated with our provider services and pharmacy operations, are included with benefits expense. The amount of this expense was $122 million in 2022, $108 million in 2021, and $127 million in 2020.

Other than those described previously, the accounting policies of each segment are the same and are described in Note 2. Transactions between reportable segments primarily consist of sales of services rendered by our CenterWell segment, primarily pharmacy, provider, and home services, to our Insurance segment customers. Intersegment sales and expenses are recorded at fair value and eliminated in consolidation. Members served by our segments often use the same provider networks, enabling us in some instances to obtain more favorable contract terms with providers. Our segments also share indirect costs and assets. As a result, the profitability of each segment is interdependent. We allocate most operating expenses to our segments. Assets and certain corporate income and expenses are not allocated to the segments, including the portion of investment income not supporting segment operations, interest expense on corporate debt, and certain other corporate expenses. These items are managed at a corporate level. These corporate amounts are reported separately from our reportable segments and are included with intersegment eliminations in the tables presenting segment results below.

Premium and services revenues derived from our contracts with the federal government, as a percentage of our total premium and services revenues, were approximately 82% for 2022, 83% for 2021 and 83% for 2020.


	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
	(in millions)
2022
External revenues
Premiums:
Individual Medicare Advantage	$	65,591	$	—	$	—	$	65,591
Group Medicare Advantage	7,297		—		—		7,297
Medicare stand-alone PDP	2,269		—		—		2,269
Total Medicare	75,157		—		—		75,157
Fully-insured	4,476		—		—		4,476
Specialty	1,703		—		—		1,703
Medicaid and other	6,376		—		—		6,376
Total premiums	87,712		—		—		87,712
Services revenue:
Home solutions	—		2,333		—		2,333
Provider	—		568		—		568
ASO and other	850		—		—		850
Pharmacy	—		1,025		—		1,025
Total services revenue	850		3,926		—		4,776
Total external revenues	88,562		3,926		—		92,488
Intersegment revenues
Services	56		3,532		(3,588)		—
Products	—		9,841		(9,841)		—
Intersegment revenues	56		13,373		(13,429)		—
Investment income	223		8		151		382
Total revenues	88,841		17,307		(13,278)		92,870
Operating expenses:
Benefits	75,934		—		(244)		75,690
Operating costs	9,251		15,835		(12,415)		12,671
Depreciation and amortization	634		181		(106)		709
Total operating expenses	85,819		16,016		(12,765)		89,070
Income (loss) from operations	3,022		1,291		(513)		3,800
Gain on sale of KAH Hospice	—		(237)		—		(237)
Interest expense	—		—		401		401
Other income, net	—		—		68		68
Income before income taxes and equity in net earnings (losses)	3,022		1,528		(982)		3,568
Equity in net earnings (losses)	18		(22)		—		(4)
Segment earnings	$	3,040	$	1,506	$	(982)	$	3,564
Net (income) loss attributable to noncontrolling interests	5		(1)		—		4
Segment earnings (loss) attributable to Humana	$	3,045	$	1,505	$	(982)	$	3,568


	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
	(in millions)
2021
External revenues
Premiums:
Individual Medicare Advantage	$	58,654	$	—	$	—	$	58,654
Group Medicare Advantage	6,955		—		—		6,955
Medicare stand-alone PDP	2,371		—		—		2,371
Total Medicare	67,980		—		—		67,980
Fully-insured	5,002		—		—		5,002
Specialty	1,731		—		—		1,731
Medicaid and other	5,109		—		—		5,109
Total premiums	79,822		—		—		79,822
Services revenue:
Home solutions	—		1,166		—		1,166
Provider	—		413		—		413
ASO and other	853		—		—		853
Pharmacy	—		623		—		623
Total services revenue	853		2,202		—		3,055
Total external revenues	80,675		2,202		—		82,877
Intersegment revenues
Services	41		2,828		(2,869)		—
Products	—		9,024		(9,024)		—
Intersegment revenues	41		11,852		(11,893)		—
Investment income (loss)	214		4		(31)		187
Total revenues	80,930		14,058		(11,924)		83,064
Operating expenses:
Benefits	69,639		—		(440)		69,199
Operating costs	8,340		12,968		(11,187)		10,121
Depreciation and amortization	539		152		(95)		596
Total operating expenses	78,518		13,120		(11,722)		79,916
Income (loss) from operations	2,412		938		(202)		3,148

Interest expense	—		—		326		326
Other income, net	—		—		(532)		(532)
Income before income taxes and equity in net earnings	2,412		938		4		3,354
Equity in net earnings	—		65		—		65
Segment earnings	$	2,412	$	1,003	$	4	$	3,419
Net (income) loss attributable to noncontrolling interests	—		(1)		—		(1)
Segment earnings attributable to Humana	$	2,412	$	1,002	$	4	$	3,418


	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
	(in millions)
2020
External revenues
Premiums:
Individual Medicare Advantage	$	51,697	$	—	$	—	$	51,697
Group Medicare Advantage	7,774		—		—		7,774
Medicare stand-alone PDP	2,742		—		—		2,742
Total Medicare	62,213		—		—		62,213
Fully-insured	5,449		—		602		6,051
Specialty	1,699		—		—		1,699
Medicaid and other	4,223		—		—		4,223
Total premiums	73,584		—		602		74,186
Services revenue:
Home solutions	—		107		—		107
Provider	—		328		—		328
ASO and other	813		—		—		813
Pharmacy	—		567		—		567
Total services revenue	813		1,002		—		1,815
Total external revenues	74,397		1,002		602		76,001
Intersegment revenues
Services	29		2,547		(2,576)		—
Products	—		7,928		(7,928)		—
Intersegment revenues	29		10,475		(10,504)		—
Investment income	171		13		970		1,154
Total revenues	74,597		11,490		(8,932)		77,155
Operating expenses:
Benefits	61,909		—		(281)		61,628
Operating costs	9,129		10,706		(9,783)		10,052
Depreciation and amortization	439		160		(110)		489
Total operating expenses	71,477		10,866		(10,174)		72,169
Income from operations	3,120		624		1,242		4,986

Interest expense	—		—		283		283
Other expense, net	—		—		103		103
Income before income taxes and equity in net earnings	3,120		624		856		4,600
Equity in net earnings	—		74		—		74
Segment earnings	$	3,120	$	698	$	856	$	4,674

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

REINSURANCE	12 Months Ended
REINSURANCE	Dec. 31, 2022
Insurance [Abstract]
REINSURANCE	REINSURANCE Certain blocks of insurance assumed in acquisitions, primarily life and annuities in run-off status are subject to reinsurance where some or all of the underwriting risk related to these policies has been ceded to a third party. In addition, a large portion of our reinsurance takes the form of 100% coinsurance agreements where, in addition to all of the underwriting risk, all administrative responsibilities, including premium collections and claim payment, have also been ceded to a third party. We acquired these policies and related reinsurance agreements with the purchase of stock of companies in which the policies were originally written. We acquired these companies for business reasons unrelated to these particular policies, including the companies’ other products and licenses necessary to fulfill strategic plans. A reinsurance agreement between two entities transfers the underwriting risk of policyholder liabilities to a reinsurer while the primary insurer retains the contractual relationship with the ultimate insured. As such, these reinsurance agreements do not completely relieve us of our potential liability to the ultimate insured. However, given the transfer of underwriting risk, our potential liability is limited to the credit exposure which exists should the reinsurer be unable to meet its obligations assumed under these reinsurance agreements. Reinsurance recoverables represent the portion of future policy benefits payable and benefits payable that are covered by reinsurance. Reinsurance recoverables, included in other current and long-term assets, were $181 million at December 31, 2022 and $188 million at December 31, 2021. The amount of these reinsurance recoverables resulting from 100% coinsurance agreements was approximately $181 million at December 31, 2022 and approximately $188 million at December 31, 2021. Premiums ceded were $5 million in 2022, $6 million in 2021 and $29 million in 2020. Benefits ceded were $2 million in 2022, $2 million in 2021, and $7 million in 2020. We evaluate the financial condition of our reinsurers on a regular basis. Protective Life Insurance Company with $165 million in reinsurance recoverables is well-known and well-established with a AM Best rating of A+ at December 31, 2022. The remaining reinsurance recoverables of $16 million are divided between 10 other reinsurers, with $1 million subject to funds withheld accounts or other financial guarantees supporting the repayment of these amounts.

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION

SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION

CONDENSED BALANCE SHEETS


	December 31,
	2022		2021
	(in millions, except share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$	614	$	906
Investment securities	320		428
Receivable from operating subsidiaries	1,807		1,316
Other current assets	577		545
Total current assets	3,318		3,195
Property and equipment, net	2,393		2,223
Investment in subsidiaries	27,905		26,885
Other long-term assets	282		666
Total assets	$	33,898	$	32,969
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Payable to operating subsidiaries	$	5,421	$	2,056
Short-term debt	2,092		1,953
Current portion of notes payable to operating subsidiaries	36		36
Book overdraft	73		68
Other current liabilities	1,425		1,460
Total current liabilities	9,047		5,573
Long-term debt	9,034		10,541
Other long-term liabilities	506		775
Total liabilities	18,587		16,889
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $1 par; 10,000,000 shares authorized; none issued	—		—
Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,666,598 shares issued at December 31, 2022 and 198,648,742 shares issued at December 31, 2021	33		33
Capital in excess of par value	3,246		3,082
Retained earnings	25,492		23,086
Accumulated other comprehensive (loss) income	(1,304)		42
Treasury stock, at cost, 73,691,955 shares at December 31, 2022 and 69,846,758 shares at December 31, 2021	(12,156)		(10,163)
Total stockholders' equity	15,311		16,080
Total liabilities and stockholders' equity	$	33,898	$	32,969

See accompanying notes to the parent company financial statements.

SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION

CONDENSED STATEMENTS OF INCOME


	For the year ended December 31,
	2022		2021		2020
	(in millions)
Revenues:
Management fees charged to operating subsidiaries	$	1,554	$	1,633	$	2,216
Investment and other (loss) income, net	(88)		(266)		763
Total revenues	1,466		1,367		2,979
Expenses:
Operating costs	1,700		1,404		2,204
Depreciation	581		488		397
Interest	400		313		283
Total expenses	2,681		2,205		2,884
Other (income) expense, net	—		(672)		60
(Loss) income before income taxes and equity in net earnings of subsidiaries	(1,215)		(166)		35
(Benefit) provision for income taxes	(266)		(259)		18
(Loss) income before equity in net earnings of subsidiaries	(949)		93		17
Equity in net earnings of subsidiaries	3,751		2,761		3,269
Equity in net earnings of equity method investments	—		79		81
Net income	$	2,802	$	2,933	$	3,367

See accompanying notes to the parent company financial statements.

SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME


	For the year ended December 31,
	2022		2021		2020
	(in millions)
Net income attributable to Humana	$	2,806	$	2,933	$	3,367
Other comprehensive income (loss):
Change in gross unrealized investment (losses) gains	(1,819)		(356)		393
Effect of income taxes	418		81		(89)
Total change in unrealized investment (losses) gains, net of tax	(1,401)		(275)		304
Reclassification adjustment for net realized losses (gains) included in investment income	72		(103)		(90)
Effect of income taxes	(17)		23		20
Total reclassification adjustment, net of tax	55		(80)		(70)
Other comprehensive (loss) income, net of tax	(1,346)		(355)		234
Comprehensive income attributable to equity method investments	—		6		1
Comprehensive income attributable to Humana	$	1,460	$	2,584	$	3,602

See accompanying notes to the parent company financial statements.

SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION

CONDENSED STATEMENTS OF CASH FLOWS


	For the year ended December 31,
	2022		2021		2020
	(in millions)
Net cash provided by operating activities	$	4,868	$	2,853	$	2,531
Cash flows from investing activities:
Acquisitions, net of cash acquired	(337)		(4,187)		(709)
Capital contributions to operating subsidiaries	(484)		(2,580)		(538)
Purchases of property and equipment, net	(931)		(958)		(785)
Purchases of investment securities	(63)		(200)		(460)
Proceeds from sale of investment securities	468		71		13
Maturities of investment securities	30		122		411
Net cash used in investing activities	(1,317)		(7,732)		(2,068)
Cash flows from financing activities:
Proceeds from issuance of senior notes, net	1,976		2,953		1,088
Repayments of senior notes	(1,000)		—		(400)
(Repayments) proceeds from issuance of commercial paper, net	(376)		352		295
Proceeds from issuance of term loan	—		2,500		1,000
Repayment of term loan	(2,000)		—		(1,000)
Change in book overdraft	5		(52)		80
Common stock repurchases	(2,096)		(79)		(1,820)
Dividends paid	(392)		(354)		(323)
Proceeds from stock option exercises and other	40		29		47
Net cash (used in) provided by financing activities	(3,843)		5,349		(1,033)
(Decrease) increase in cash and cash equivalents	(292)		470		(570)
Cash and cash equivalents at beginning of year	906		436		1,006
Cash and cash equivalents at end of year	$	614	$	906	$	436

See accompanying notes to the parent company financial statements.

SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION

NOTES TO CONDENSED FINANCIAL STATEMENTS

BASIS OF PRESENTATIONParent company financial information has been derived from our consolidated financial statements and excludes the accounts of all operating subsidiaries. This information should be read in conjunction with our consolidated financial statements.TRANSACTIONS WITH SUBSIDIARIES

Services Fee

Through intercompany service agreements approved, if required, by state regulatory authorities, Humana Inc., our parent company, charges a services fee for reimbursement of certain centralized services provided to its subsidiaries including information systems, disbursement, investment and cash administration, marketing, legal, finance, and medical and executive management oversight.

Dividends

Cash dividends received from subsidiaries and included as a component of net cash provided by operating activities were $1.3 billion in 2022, $1.6 billion in 2021, and $1.3 billion in 2020.

Guarantee

Through indemnity agreements approved by state regulatory authorities, certain of our regulated subsidiaries generally are guaranteed by our parent company in the event of insolvency for: (1) member coverage for which premium payment has been made prior to insolvency; (2) benefits for members then hospitalized until discharged; and (3) payment to providers for services rendered prior to insolvency. Our parent has also guaranteed the obligations of our military services subsidiaries and funding to maintain required statutory capital levels of certain other regulated subsidiaries.

REGULATORY REQUIREMENTS

Our use of operating cash flows derived from our non-insurance subsidiaries, such as in our Healthcare Services segment, is generally not restricted by state departments of insurance (or comparable state regulators).ACQUISITIONSRefer to Note 3 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K for a description of certain acquisitions. During 2022, 2021 and 2020, we funded certain non-regulated subsidiary acquisitions with contributions from Humana Inc., our parent company, included in capital contributions in the condensed statement of cash flows.INCOME TAXESRefer to Note 12 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K for a description of income taxes.DEBTRefer to Note 13 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K for a description of debt.STOCKHOLDERS' EQUITYRefer to Note 16 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K for a description of stockholders’ equity, including stock repurchases and stockholder dividends.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

on knowledge of current events and anticipated future events, and accordingly, actual results may ultimately differ materially from those estimates.

Value Creation Initiatives

Health Care Reform

Cash and Cash Equivalents

Investment Securities

Premiums Revenue

Medicare Part D

and discounts as a deposit in our consolidated balance sheets and as a financing activity under receipts (withdrawals) from contract deposits, net in our consolidated statements of cash flows.


	2022		2021		2020
	(in millions)
Part D subsidy/discount payments	$	(16,530)	$	(14,889)	$	(13,348)
Part D subsidy/discount reimbursements	18,498		14,628		12,410
Net reimbursements (payments)	$	1,968	$	(261)	$	(938)

Services Revenue

Patient services revenue

Administrative services fees


	2022		2021		2020
	(in millions)
Health care cost payments	$	(7,110)	$	(6,943)	$	(6,253)
Health care cost reimbursements	7,135		6,898		6,252
Net reimbursements (payments)	$	25	$	(45)	$	(1)

Receivables

Other Current Assets

Other Current AssetsOther current assets include amounts associated with Medicare Part D as discussed above and in Note 7, rebates due from pharmaceutical manufacturers and other amounts due within one year. We accrue pharmaceutical rebates as they are earned based on contractual terms and usage of the product.

Policy Acquisition Costs

Long-Lived Assets

Equity Method Investments

Goodwill and Intangible Assets

Benefits Payable and Benefits Expense Recognition

Future policy benefits payable

Book Overdraft

Income Taxes

Noncontrolling Interests

income attributable to noncontrolling interests” in the consolidated statements of income and presented as a component of equity in the consolidated balance sheets.

Stock-Based Compensation

Stock-Based CompensationWe generally recognize stock-based compensation expense, as determined on the date of grant at fair value, on a straight-line basis over the period during which an employee is required to provide service in exchange for the award (the vesting period). In addition, for awards with both time and performance-based conditions, we generally recognize compensation expense on a straight line basis over the vesting period when it is probable that the performance condition will be achieved. We estimate expected forfeitures and recognize compensation expense only for those awards which are expected to vest. We estimate the grant-date fair value of stock options using the Black-Scholes option-pricing model.

Earnings Per Common Share

Fair Value

Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include securities that are traded in an active exchange market.

Recently Issued Accounting Pronouncements

Accounting Pronouncements Effective in Future Periods

There are no other recently issued accounting standards that apply to us or that are expected to have a material impact on our results of operations, financial condition, or cash flows.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Health Care Cost Payments and Reimbursements

We account for these subsidies

and discounts as a deposit in our consolidated balance sheets and as a financing activity under receipts (withdrawals) from contract deposits, net in our consolidated statements of cash flows.


	2022		2021		2020
	(in millions)
Part D subsidy/discount payments	$	(16,530)	$	(14,889)	$	(13,348)
Part D subsidy/discount reimbursements	18,498		14,628		12,410
Net reimbursements (payments)	$	1,968	$	(261)	$	(938)

We account for the payments of the federal government’s claims and the related reimbursements under deposit accounting in our consolidated balance sheets and as a financing activity under receipts (withdrawals) from contract deposits,net in our consolidated statements of cash flows.


	2022		2021		2020
	(in millions)
Health care cost payments	$	(7,110)	$	(6,943)	$	(6,253)
Health care cost reimbursements	7,135		6,898		6,252
Net reimbursements (payments)	$	25	$	(45)	$	(1)

ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The assets, liabilities and noncontrolling interest disposed of on August 11, 2022 were as follows:



	(in millions)

Cash and cash equivalents	$	73
Receivables, net of allowances	194
Other current assets	20
Property and equipment, net	44
Goodwill	2,331
Other assets	960
Total assets	$	3,622


Trade accounts payable and accrued expenses	$	245
Other long-term liabilities	285
Total liabilities	$	530
Noncontrolling interest	$	11

The final fair values of KAH’s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows:



	(in millions)
Cash and cash equivalents	$	278
Receivables	381
Other current assets	61
Property and equipment	74
Goodwill	5,771
Other intangible assets	2,312
Other long-term assets	172
Total assets acquired	$	9,049
Current liabilities	$	410
Long term debt	2,078
Other long-term liabilities	369
Total liabilities assumed	$	2,857
Noncontrolling interests	22
Net assets acquired	$	6,170

EQUITY METHOD INVESTMENT (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The summarized balance sheet at December 31, 2022 and statement of income for the period beginning August 11, 2022 through December 31, 2022 of KAH Hospice were as follows:


Balance sheet	December 31, 2022

	(in millions)
Current assets	$	297
Non-current assets	3,577
Current liabilities	269
Non-current liabilities	2,219
Shareholders' equity	1,386


Statements of income
	August 11, 2022 through December 31, 2022
	(in millions)
Revenues	$	654
Expenses	652
Net income	2

INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities Classified as Current and Long-Term

Investment securities classified as current and long-term were as follows at December 31, 2022 and 2021, respectively:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in millions)
December 31, 2022
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	1,093	$	1	$	(55)	$	1,039
Mortgage-backed securities	3,697		4		(471)		3,230
Tax-exempt municipal securities	765		—		(37)		728
Mortgage-backed securities:
Residential	477		—		(76)		401
Commercial	1,554		—		(155)		1,399
Asset-backed securities	1,809		1		(79)		1,731
Corporate debt securities	6,551		3		(828)		5,726
Total debt securities	$	15,946	$	9	$	(1,701)	14,254
Common stock							7
Total investment securities							$	14,261

December 31, 2021
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	611	$	1	$	(10)	$	602
Mortgage-backed securities	3,265		33		(69)		3,229
Tax-exempt municipal securities	810		33		(2)		841
Mortgage-backed securities:
Residential	373		—		(6)		367
Commercial	1,394		27		(11)		1,410
Asset-backed securities	1,346		6		(4)		1,348
Corporate debt securities	5,641		118		(59)		5,700
Total debt securities	$	13,440	$	218	$	(161)	13,497
Common stock							475
Total investment securities							$	13,972

Schedule of Gross Unrealized Losses and Fair Value of Securities


	Less than 12 months				12 months or more				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses

	(in millions)
December 31, 2022
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	512	$	(5)	$	397	$	(50)	$	909	$	(55)
Mortgage-backed securities	1,231		(104)		1,683		(367)		2,914		(471)
Tax-exempt municipal securities	64		(2)		615		(36)		679		(38)
Mortgage-backed securities:
Residential	124		(16)		274		(60)		398		(76)
Commercial	243		(13)		1,157		(142)		1,400		(155)
Asset-backed securities	620		(32)		1,011		(46)		1,631		(78)
Corporate debt securities	1,625		(98)		3,825		(730)		5,450		(828)
Total debt securities	$	4,419	$	(270)	$	8,962	$	(1,431)	$	13,381	$	(1,701)

December 31, 2021
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	201	$	(3)	$	355	$	(7)	$	556	$	(10)
Mortgage-backed securities	2,082		(49)		556		(20)		2,638		(69)
Tax-exempt municipal securities	68		(1)		34		(1)		102		(2)
Mortgage-backed securities:
Residential	358		(6)		8		—		366		(6)
Commercial	295		(4)		400		(7)		695		(11)
Asset-backed securities	530		(3)		425		(1)		955		(4)
Corporate debt securities	1,456		(28)		769		(31)		2,225		(59)
Total debt securities	$	4,990	$	(94)	$	2,547	$	(67)	$	7,537	$	(161)

Schedule of Realized Gains (Losses) Related to Investment Securities Included Within Investment Income

The detail of realized gains (losses) related to investment securities and included within investment income was as follows for the years ended December 31, 2022, 2021, and 2020:


	2022		2021		2020
	(in millions)
Gross gains on investment securities	$	62	$	219	$	110
Gross losses on investment securities	(144)		(8)		(18)
Gross gains on equity securities	51		23		746
Gross losses on equity securities	(174)		(364)		—
Net recognized (losses) gains on investment securities	$	(205)	$	(130)	$	838

Gain (Loss) on Equity Securities

The gains and losses related to equity securities for the years ended December 31, 2022, 2021 and 2020 was as follows:


	2022		2021		2020
	(in millions)
Net (losses) gains recognized on equity securities during the period	$	(123)	$	(341)	$	746
Less: Net losses recognized on equity securities sold during the period	(105)		(13)		—
Unrealized (losses) gains recognized on equity securities still held at the end of the period	$	(18)	$	(328)	$	746

Schedule of Contractual Maturities of Debt Securities Available for Sale


	Amortized Cost		Fair Value
	(in millions)
Due within one year	$	529	$	525
Due after one year through five years	3,399		3,210
Due after five years through ten years	3,231		2,764
Due after ten years	1,250		994
Mortgage and asset-backed securities	7,537		6,761
Total debt securities	$	15,946	$	14,254

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes our fair value measurements at December 31, 2022 and 2021, respectively, for financial assets measured at fair value on a recurring basis:


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
	(in millions)
December 31, 2022
Cash equivalents	$	4,832	$	4,832	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	1,039		—		1,039		—
Mortgage-backed securities	3,230		—		3,230		—
Tax-exempt municipal securities	728		—		728		—
Mortgage-backed securities:
Residential	401		—		401		—
Commercial	1,399		—		1,399		—
Asset-backed securities	1,731		—		1,731		—
Corporate debt securities	5,726		—		5,625		101
Total debt securities	14,254		—		14,153		101
Common stock	7		7		—		—
Total invested assets	$	19,093	$	4,839	$	14,153	$	101

December 31, 2021
Cash equivalents	$	3,322	$	3,322	$	—	$	—
Debt securities:
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	602		—		602		—
Mortgage-backed securities	3,229		—		3,229		—
Tax-exempt municipal securities	841		—		841		—
Mortgage-backed securities:
Residential	367		—		367		—
Commercial	1,410		—		1,410		—
Asset-backed securities	1,348		—		1,348		—
Corporate debt securities	5,700		—		5,632		68
Total debt securities	13,497		—		13,429		68
Common stock	475		475		—		—
Total invested assets	$	17,294	$	3,797	$	13,429	$	68

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

During the years ended December 31, 2022 and 2021, the changes in the fair value of the assets measured using significant unobservable inputs (Level 3) were comprised of the following:


	For the year ended December 31, 2022		For the year ended December 31, 2021

	Private Placements
	(in millions)
Beginning balance at January 1	$	68	$	—
Total gains or losses:
Realized in earnings	—		—
Unrealized in other comprehensive income	(14)		(1)
Purchases	47		69
Sales	—		—
Settlements	—		—
Balance at December 31	$	101	$	68

Schedule of Assumptions Used For Inputs In Fair Value Measurement

The table below presents the assumptions used for December 31, 2022 and 2021, respectively:


	December 31, 2022		December 31, 2021
Annualized volatility	16.7% - 20.8%		22.4	%
Credit spread	1.3% - 1.5%		0.9	%
Revenue exit multiple	1.5x - 2.5x		1.5x - 2.5x
Weighted average cost of capital	11.5% - 12.5%		12.5	%
Long term growth rate	3.0	%	3.0	%

MEDICARE PART D (Tables)

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

Schedule of Balance Sheet Amounts Associated With Medicare Part D

The accompanying consolidated balance sheets include the following amounts associated with Medicare Part D as of December 31, 2022 and 2021. CMS subsidies/discounts in the table below include the reinsurance and low-income cost subsidies funded by CMS for which we assume no risk as well as brand name prescription drug discounts for Part D plan participants in the coverage gap funded by CMS and pharmaceutical manufacturers. For additional information regarding our prescription drug benefits coverage in accordance with Medicare Part D, refer to Note 2 to

the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Form 10-K.


	2022				2021
	Risk Corridor Settlement		CMS Subsidies/ Discounts		Risk Corridor Settlement		CMS Subsidies/ Discounts
	(in millions)
Other current assets	$	240	$	696	$	363	$	1,894
Trade accounts payable and accrued expenses	(166)		(1,236)		(68)		(466)
Net current asset (liability)	74		(540)		295		1,428
Other long-term assets	19		—		5		—
Other long-term liabilities	(78)		—		(194)		—
Net long-term liability	(59)		—		(189)		—
Total net asset (liability)	$	15	$	(540)	$	106	$	1,428

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment was comprised of the following at December 31, 2022 and 2021.


	2022		2021
	(in millions)
Land	$	17	$	17
Buildings and leasehold improvements	1,143		1,126
Equipment	1,246		1,148
Computer software	3,951		3,656
	6,357		5,947
Accumulated depreciation	(3,136)		(2,874)
Property and equipment, net	$	3,221	$	3,073

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill By Reportable Segments

Changes in the carrying amount of goodwill for our reportable segments for the years ended December 31, 2022 and 2021 were as follows:


	Insurance		CenterWell		Total
	(in millions)
Balance at January 1, 2021	$	1,892	$	2,555	$	4,447
Acquisitions	398		6,247		6,645


Balance at December 31, 2021	2,290		8,802		11,092
Acquisitions	182		199		381
Dispositions	—		(2,331)		(2,331)

Balance at December 31, 2022	$	2,472	$	6,670	$	9,142

Schedule of Intangible Assets Included in Other Long-Term Assets

The following table presents details of our other intangible assets included in other long-term assets in the accompanying consolidated balance sheets at December 31, 2022 and 2021:


	Weighted Average Life	2022						2021
		Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
		(in millions)
Other intangible assets:
Certificates of need	Indefinite	$	1,132	$	—	$	1,132	$	1,771	$	—	$	1,771
Medicare licenses	Indefinite	286		—		286		522		—		522
Customer contracts/relationships	9.3 years	929		673		256		883		620		263
Trade names and technology	6.7 years	142		107		35		160		97		63
Provider contracts	11.6 years	73		63		10		72		57		15
Noncompetes and other	8.4 years	86		40		46		35		30		5
Total other intangible assets	9.1 years	$	2,648	$	883	$	1,765	$	3,443	$	804	$	2,639

Schedule of Estimate of Amortization Expense

The following table presents our estimate of amortization expense for each of the five next succeeding fiscal years:


	(in millions)
2023	$	63
2024	55
2025	53
2026	41
2027	31

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Maturity of Lease Liabilities


Maturity of Lease Liabilities	December 31, 2022
For the years ended December 31,	(in millions)
2023	$	171
2024	141
2025	114
2026	72
2027	49
After 2027	116
Total lease payments	663
Less: Interest	55
Present value of lease liabilities	$	608

BENEFITS PAYABLE (Tables)

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

Schedule of Activity in Benefits Payable

On a consolidated basis, which represents our Insurance segment net of eliminations, activity in benefits payable was as follows for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
	(in millions)
Balances at January 1	$	8,289	$	8,143	$	6,004

Less: Reinsurance recoverables	—		—		(68)
Balances at January 1, net	8,289		8,143		5,936
Acquisitions	—		42		—
Incurred related to:
Current year	76,105		70,024		61,941
Prior years	(415)		(825)		(313)
Total incurred	75,690		69,199		61,628
Paid related to:
Current year	(67,287)		(62,149)		(54,003)
Prior years	(7,428)		(6,946)		(5,418)
Total paid	(74,715)		(69,095)		(59,421)


Balances at December 31	$	9,264	$	8,289	$	8,143

Schedule of Incurred and Paid Claims Development

The following tables provide information about incurred and paid claims development as of December 31, 2022, net of reinsurance.


	Incurred Claims, Net of Reinsurance
	For the Years Ended December 31,
Claims Incurred Year	2020 Unaudited		2021 Unaudited		2022
	(in millions)
2020	$	61,941	$	61,258	$	61,224
2021			70,066		69,698
2022					76,105
Total					$	207,027


	Cumulative Paid Claims, Net of Reinsurance
	For the Years Ended December 31,
Claims Incurred Year	2020 Unaudited		2021 Unaudited		2022
	(in millions)
2020	$	54,003	$	60,886	$	61,224
2021			62,149		69,252
2022					67,287
Total					197,763
All outstanding benefit liabilities before 2020, net of reinsurance					N/A
Benefits payable, net of reinsurance					$	9,264

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes consisted of the following for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
	(in millions)
Current provision:
Federal	$	755	$	466	$	1,019
States and Puerto Rico	107		4		93
Total current provision	862		470		1,112
Deferred (benefit) expense	(100)		15		195
Provision for income taxes	$	762	$	485	$	1,307

Provision for Income Taxes Using Federal Statutory Rate

The provision for income taxes was different from the amount computed using the federal statutory rate for the years ended December 31, 2022, 2021 and 2020 due to the following:


	2022		2021		2020
	(in millions)
Income tax provision at federal statutory rate	$	750	$	718	$	982
States, net of federal benefit, and Puerto Rico	49		18		63
Tax exempt investment income	(3)		(3)		(5)
Nondeductible executive compensation	30		33		19
Non-taxable KAH gain	—		(264)		—
Tax effect from sale of KAH Hospice	(72)		—		—
Health insurance industry fee	—		—		268

Other, net	8		(17)		(20)
Provision for income taxes	$	762	$	485	$	1,307

Principal Components of Net Deferred Tax Balances

Principal components of our net deferred tax balances at December 31, 2022 and 2021 were as follows:


	Assets (Liabilities)
	2022		2021
	(in millions)
Net operating loss carryforward	$	105	$	291
Compensation and other accrued expense	158		186
Benefits payable	103		67
Deferred acquisition costs	43		33
Jobs tax credits	22		33
Other	16		25
Unearned revenues	7		8

Investment securities	454		—

Total deferred income tax assets	908		643
Valuation allowance	(57)		(65)
Total deferred income tax assets, net of valuation allowance	851		578
Depreciable property and intangible assets	(740)		(1,072)
Prepaid expenses	(132)		(102)
Investment securities	—		(98)
Other	(6)		(4)
Total deferred income tax liabilities	(878)		(1,276)
Total net deferred income tax liabilities	$	(27)	$	(698)

DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Carrying Value of Debt Outstanding

The carrying value of debt outstanding was as follows at December 31, 2022 and 2021:


	2022		2021
	(in millions)
Short-term debt:
Commercial paper	$	595	$	955
Senior notes:
$1,500 million, 0.65% due August 3, 2023	1,497		—
$600 million, 3.15% due December 1, 2022	—		599
$400 million, 2.90% due December 15, 2022	—		399
Total senior notes	1,497		998
Total short-term debt	$	2,092	$	1,953

Long-term debt:
Senior notes:
$1,500 million, 0.65% due August 3, 2023	—		1,492
$600 million, 3.85% due October 1, 2024	599		598
$600 million, 4.50% due April 1, 2025	597		596
$750 million 1.35% due February 3, 2027	745		742
$600 million, 3.95% due March 15, 2027	597		596
$500 million, 5.75% due March 1, 2028	494		—
$750 million, 3.70% due March 23, 2029	743		—
$500 million, 3.13% due August 15, 2029	496		496
$500 million, 4.88% due April 1, 2030	495		495
$750 million, 2.15% due February 3, 2032	743		741
$750 million, 5.88% due March 1, 2033	739		—
$250 million, 8.15% due June 15, 2038	261		261
$400 million, 4.63% due December 1, 2042	396		396
$750 million, 4.95% due October 1, 2044	740		740
$400 million, 4.80% due March 15, 2047	396		395
$500 million, 3.95% due August 15, 2049	493		493
Term loans:
Term loan, due October 29, 2023	—		2,000
Delayed draw term loan, due May 28, 2024	500		500
Total long-term debt	$	9,034	$	10,541

Schedule of Maturities of Long-term Debt

Maturities of the short-term and long-term debt for the years ending December 31, are as follows:


For the years ending December 31,	(in millions)
2023	$	2,095
2024	1,100
2025	600
2026	—
2027	1,350
Thereafter	6,050

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Compensation Expense

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2022, 2021, and 2020:


	2022		2021		2020
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	207	$	171	$	171
Stock options	9		9		10
Total stock-based compensation expense	216		180		181
Tax benefit recognized	(28)		(15)		(29)
Stock-based compensation expense, net of tax	$	188	$	165	$	152

Schedule of Restricted Stock Awards Activity

Activity for our restricted stock was as follows for the year ended December 31, 2022:


	Shares	Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2021	873	$	380.55
Granted	492	430.06
Vested	(449)	342.42
Forfeited	(103)	292.28
Nonvested restricted stock at December 31, 2022	813	$	429.22

Schedule of Weighted-Average Fair Value Assumptions

The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:


	2022			2021			2020
Weighted-average fair value at grant date	$	113.35		$	92.21		$	69.73
Expected option life (years)	3.6 years			3.7 years			4.0 years
Expected volatility	36.1		%	33.8		%	24.9		%
Risk-free interest rate at grant date	1.8		%	0.4		%	1.2		%
Dividend yield	0.7		%	0.7		%	0.7		%

Schedule of Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2022:


	Shares Under Option	Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2021	310	$	339.08
Granted	65	425.32
Exercised	(163)	319.27
Forfeited	(8)	370.26
Options outstanding at December 31, 2022	204	$	381.37
Options exercisable at December 31, 2022	48	$	345.90

EARNINGS PER COMMON SHARE COMPUTATION (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Common Share

Detail supporting the computation of basic and diluted earnings per common share was as follows for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
	(dollars in millions, except per common share results, number of shares/options in thousands)
Net income available for common stockholders	$	2,806	$	2,933	$	3,367
Weighted-average outstanding shares of common stock used to compute basic earnings per common share	126,419		128,688		132,199
Dilutive effect of:
Employee stock options	50		64		92
Restricted stock	625		644		721
Shares used to compute diluted earnings per common share	127,094		129,396		133,012
Basic earnings per common share	$	22.20	$	22.79	$	25.47
Diluted earnings per common share	$	22.08	$	22.67	$	25.31
Number of antidilutive stock options and restricted stock awards excluded from computation	205		216		238

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Details of Dividend Payments

The following table provides details of dividend payments, excluding dividend equivalent rights, in 2020, 2021, and 2022, under our Board approved quarterly cash dividend policy:


Payment Date	Amount per Share	Total Amount
		(in millions)
2020	$2.43	$322
2021	$2.73	$351
2022	$3.06	$390

Schedule of Share Repurchases

Excluding shares acquired in connection with employee stock plans, share repurchases were as follows during the years ended December 31, 2022, 2021 and 2020:


		2022			2021			2020
Authorization Date	Purchase Not to Exceed	Shares	Cost		Shares	Cost		Shares	Cost
	(in millions)
February 2021	3,000	4.30	$	2,000	—	$	—	—	$	—
July 2019	3,000	—	—		—	—		3.80	1,750
Total repurchases		4.30	$	2,000	—	$	—	3.80	$	1,750

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, By Segment


	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
	(in millions)
2022
External revenues
Premiums:
Individual Medicare Advantage	$	65,591	$	—	$	—	$	65,591
Group Medicare Advantage	7,297		—		—		7,297
Medicare stand-alone PDP	2,269		—		—		2,269
Total Medicare	75,157		—		—		75,157
Fully-insured	4,476		—		—		4,476
Specialty	1,703		—		—		1,703
Medicaid and other	6,376		—		—		6,376
Total premiums	87,712		—		—		87,712
Services revenue:
Home solutions	—		2,333		—		2,333
Provider	—		568		—		568
ASO and other	850		—		—		850
Pharmacy	—		1,025		—		1,025
Total services revenue	850		3,926		—		4,776
Total external revenues	88,562		3,926		—		92,488
Intersegment revenues
Services	56		3,532		(3,588)		—
Products	—		9,841		(9,841)		—
Intersegment revenues	56		13,373		(13,429)		—
Investment income	223		8		151		382
Total revenues	88,841		17,307		(13,278)		92,870
Operating expenses:
Benefits	75,934		—		(244)		75,690
Operating costs	9,251		15,835		(12,415)		12,671
Depreciation and amortization	634		181		(106)		709
Total operating expenses	85,819		16,016		(12,765)		89,070
Income (loss) from operations	3,022		1,291		(513)		3,800
Gain on sale of KAH Hospice	—		(237)		—		(237)
Interest expense	—		—		401		401
Other income, net	—		—		68		68
Income before income taxes and equity in net earnings (losses)	3,022		1,528		(982)		3,568
Equity in net earnings (losses)	18		(22)		—		(4)
Segment earnings	$	3,040	$	1,506	$	(982)	$	3,564
Net (income) loss attributable to noncontrolling interests	5		(1)		—		4
Segment earnings (loss) attributable to Humana	$	3,045	$	1,505	$	(982)	$	3,568


	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
	(in millions)
2021
External revenues
Premiums:
Individual Medicare Advantage	$	58,654	$	—	$	—	$	58,654
Group Medicare Advantage	6,955		—		—		6,955
Medicare stand-alone PDP	2,371		—		—		2,371
Total Medicare	67,980		—		—		67,980
Fully-insured	5,002		—		—		5,002
Specialty	1,731		—		—		1,731
Medicaid and other	5,109		—		—		5,109
Total premiums	79,822		—		—		79,822
Services revenue:
Home solutions	—		1,166		—		1,166
Provider	—		413		—		413
ASO and other	853		—		—		853
Pharmacy	—		623		—		623
Total services revenue	853		2,202		—		3,055
Total external revenues	80,675		2,202		—		82,877
Intersegment revenues
Services	41		2,828		(2,869)		—
Products	—		9,024		(9,024)		—
Intersegment revenues	41		11,852		(11,893)		—
Investment income (loss)	214		4		(31)		187
Total revenues	80,930		14,058		(11,924)		83,064
Operating expenses:
Benefits	69,639		—		(440)		69,199
Operating costs	8,340		12,968		(11,187)		10,121
Depreciation and amortization	539		152		(95)		596
Total operating expenses	78,518		13,120		(11,722)		79,916
Income (loss) from operations	2,412		938		(202)		3,148

Interest expense	—		—		326		326
Other income, net	—		—		(532)		(532)
Income before income taxes and equity in net earnings	2,412		938		4		3,354
Equity in net earnings	—		65		—		65
Segment earnings	$	2,412	$	1,003	$	4	$	3,419
Net (income) loss attributable to noncontrolling interests	—		(1)		—		(1)
Segment earnings attributable to Humana	$	2,412	$	1,002	$	4	$	3,418


	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
	(in millions)
2020
External revenues
Premiums:
Individual Medicare Advantage	$	51,697	$	—	$	—	$	51,697
Group Medicare Advantage	7,774		—		—		7,774
Medicare stand-alone PDP	2,742		—		—		2,742
Total Medicare	62,213		—		—		62,213
Fully-insured	5,449		—		602		6,051
Specialty	1,699		—		—		1,699
Medicaid and other	4,223		—		—		4,223
Total premiums	73,584		—		602		74,186
Services revenue:
Home solutions	—		107		—		107
Provider	—		328		—		328
ASO and other	813		—		—		813
Pharmacy	—		567		—		567
Total services revenue	813		1,002		—		1,815
Total external revenues	74,397		1,002		602		76,001
Intersegment revenues
Services	29		2,547		(2,576)		—
Products	—		7,928		(7,928)		—
Intersegment revenues	29		10,475		(10,504)		—
Investment income	171		13		970		1,154
Total revenues	74,597		11,490		(8,932)		77,155
Operating expenses:
Benefits	61,909		—		(281)		61,628
Operating costs	9,129		10,706		(9,783)		10,052
Depreciation and amortization	439		160		(110)		489
Total operating expenses	71,477		10,866		(10,174)		72,169
Income from operations	3,120		624		1,242		4,986

Interest expense	—		—		283		283
Other expense, net	—		—		103		103
Income before income taxes and equity in net earnings	3,120		624		856		4,600
Equity in net earnings	—		74		—		74
Segment earnings	$	3,120	$	698	$	856	$	4,674

REPORTING ENTITY (Details) - segment	12 Months Ended
REPORTING ENTITY (Details) - segment	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Number of reportable segments	2
Premiums and services revenue \| Government contracts concentration risk \| Federal government contracts
Concentration Risk [Line Items]
Concentration risk (percent)	82.00%	83.00%	83.00%
Premiums and services revenue \| Government contracts concentration risk \| CMS, coverage for individual Medicare Advantage members in Florida
Concentration Risk [Line Items]
Concentration risk (percent)	14.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 02, 2017
Significant Accounting Policies [Line Items]
Health services term		1 year
Number of days notice for employer group to cancel short-duration prepaid health services policies		30 days
Consumer discounts on brand name prescription drugs		50.00%
Pharmaceutical rebates		$ 2,000,000,000	$ 2,000,000,000
Typical term (in years) of short-duration employer-group prepaid health services policies		1 year
Goodwill		$ 9,142,000,000	11,092,000,000	$ 4,447,000,000
Goodwill impairment loss		0	0	0
Value Creation Initiatives
Significant Accounting Policies [Line Items]
Restructuring and impairment charge		473,000,000
Assets held for abandonment		248,000,000
Severance costs		116,000,000
Home Solutions Reporting Unit
Significant Accounting Policies [Line Items]
Goodwill		4,300,000,000
Provider reporting unit
Significant Accounting Policies [Line Items]
Goodwill		$ 1,100,000,000
Equipment \| Minimum
Significant Accounting Policies [Line Items]
Long-lived assets estimated useful life (in years)		3 years
Equipment \| Maximum
Significant Accounting Policies [Line Items]
Long-lived assets estimated useful life (in years)		10 years
Computer software \| Minimum
Significant Accounting Policies [Line Items]
Long-lived assets estimated useful life (in years)		3 years
Computer software \| Maximum
Significant Accounting Policies [Line Items]
Long-lived assets estimated useful life (in years)		5 years
Building \| Minimum
Significant Accounting Policies [Line Items]
Long-lived assets estimated useful life (in years)		10 years
Building \| Maximum
Significant Accounting Policies [Line Items]
Long-lived assets estimated useful life (in years)		20 years
Services
Significant Accounting Policies [Line Items]
Accounts receivable		$ 291,000,000	$ 475,000,000
Medicare Supplement Product \| Revenue Benchmark \| Product Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk (percent)		1.00%
Reinsurance Policy, Type [Axis]: CMS brand name prescription drug discounts \| Minimum
Significant Accounting Policies [Line Items]
Settlement period after close		14 months
Reinsurance Policy, Type [Axis]: CMS brand name prescription drug discounts \| Maximum
Significant Accounting Policies [Line Items]
Settlement period after close		18 months
Reinsurance Policy, Type [Axis]: CMS reinsurance subsidies and discounts
Significant Accounting Policies [Line Items]
Settlement period after close		9 months
US Risk Corridor Premium Stabilization Program
Significant Accounting Policies [Line Items]
Litigation recoveries sought					$ 611,000,000
Payment received upon judgement	$ 609,000,000			609,000,000
Related legal fees and expenses				31,000,000
Health Care Reform
Significant Accounting Policies [Line Items]
Payment of annual health insurance industry fee				$ 1,180,000,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Part D Subsidy/Discount Payments, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Part D subsidy/discount payments	$ (16,530)	$ (14,889)	$ (13,348)
Part D subsidy/discount reimbursements	18,498	14,628	12,410
Net reimbursements (payments)	$ 1,968	$ (261)	$ (938)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Health Care Cost Payments, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Health care cost payments	$ (7,110)	$ (6,943)	$ (6,253)
Health care cost reimbursements	7,135	6,898	6,252
Net reimbursements (payments)	$ 25	$ (45)	$ (1)

ACQUISITIONS AND DIVESTITURES - Narrative (Details) - USD ($) $ in Millions			12 Months Ended
	Aug. 11, 2022	Aug. 17, 2021	Dec. 31, 2022	Dec. 31, 2021	Aug. 31, 2021
Business Acquisition [Line Items]
Equity method investments			$ 749	$ 141
KAH
Business Acquisition [Line Items]
Remaining ownership percentage acquired		60.00%
Enterprise value of acquiree including existing equity value		$ 8,200
Existing equity value		$ 2,400
Minority ownership prior to acquisition (percent)		40.00%
Equity method investments		$ 1,300
Remeasurement gain		1,100
Transaction amount, net of existing equity stake		$ 5,800			$ 5,800
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Kindred at Home, Hospice and Personal Care Divisions
Business Acquisition [Line Items]
Equity interest to be sold	60.00%
Consideration to be received	$ 2,700
Pre-tax gain, net of transaction costs	237
Pretax earnings			150	113
Revenue			$ 958	$ 582
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Kindred at Home, Hospice and Personal Care Divisions \| Medicare Licenses And Certificates Of Need
Business Acquisition [Line Items]
Identifiable intangibles	866
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Kindred at Home, Hospice and Personal Care Divisions \| Term loan, due October 29, 2023 \| Loans Payable
Business Acquisition [Line Items]
Repayment of debt	$ 1,900

ACQUISITIONS AND DIVESTITURES - Assets, Liabilities And Noncontrolling Interest Disposed (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Kindred at Home, Hospice and Personal Care Divisions $ in Millions	Aug. 11, 2022 USD ($)
Business Acquisition [Line Items]
Cash and cash equivalents	$ 73
Receivables, net of allowances	194
Other current assets	20
Property and equipment, net	44
Goodwill	2,331
Other assets	960
Total assets	3,622
Trade accounts payable and accrued expenses	245
Other long-term liabilities	285
Total liabilities	530
Noncontrolling interest	$ 11

ACQUISITIONS AND DIVESTITURES - Preliminary Fair Value on Date of Acquisition (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Aug. 17, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 9,142	$ 11,092		$ 4,447
Kindred at Home
Business Acquisition [Line Items]
Cash and cash equivalents			$ 278
Receivables			381
Other current assets			61
Property and equipment			74
Goodwill			5,771
Other intangible assets			2,312
Other long-term assets			172
Total assets acquired			9,049
Current liabilities			410
Long term debt			2,078
Other long-term liabilities			369
Total liabilities assumed			2,857
Noncontrolling interests			22
Net assets acquired			$ 6,170

EQUITY METHOD INVESTMENT - Narrative (Details) - primary_care_center	12 Months Ended
	Dec. 31, 2022	Aug. 11, 2022	Jul. 31, 2021
Schedule of Equity Method Investments [Line Items]
Number of primary care centers in strategic partnership	50
Number of additional primary care centers expected to be opened in strategic partnership	100
Disposed of by sale \| Kindred at Home, Hospice and Personal Care Divisions
Schedule of Equity Method Investments [Line Items]
Equity interest to be sold		60.00%
WCAS
Schedule of Equity Method Investments [Line Items]
Time frame for put and call option activity per partnership agreement, minimum	3 years
Time frame for put and call option activity per partnership agreement, maximum	10 years
Kindred at Home
Schedule of Equity Method Investments [Line Items]
Equity method investment ownership (percent)		40.00%	40.00%

EQUITY METHOD INVESTMENT - Summarized Balance Sheets and Statements of Income (Details) - USD ($) $ in Millions	5 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance sheet
Current assets	$ 26,183	$ 26,183	$ 24,893
Current liabilities	17,178	17,178	15,331
Shareholders' equity	15,311	15,311	16,080
Income Statement Related Disclosures [Abstract]
Revenues		92,870	83,064	$ 77,155
Net income attributable to Humana		2,806	$ 2,933	$ 3,367
Kindred at Home
Balance sheet
Current assets	297	297
Non-current assets	3,577	3,577
Current liabilities	269	269
Non-current liabilities	2,219	2,219
Shareholders' equity	1,386	$ 1,386
Income Statement Related Disclosures [Abstract]
Revenues	654
Expenses	652
Net income attributable to Humana	$ 2

INVESTMENT SECURITIES - Classified as Current and Long-Term (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Securities Amortized Cost to Fair Value
Amortized Cost	$ 15,946	$ 13,440
Gross Unrealized Gains	9	218
Gross Unrealized Losses	(1,701)	(161)
Fair Value	14,254	13,497
Common stock	7	475
Total investment securities	14,261	13,972
U.S. Treasury and agency obligations
Debt Securities Amortized Cost to Fair Value
Amortized Cost	1,093	611
Gross Unrealized Gains	1	1
Gross Unrealized Losses	(55)	(10)
Fair Value	1,039	602
Mortgage-backed securities
Debt Securities Amortized Cost to Fair Value
Amortized Cost	3,697	3,265
Gross Unrealized Gains	4	33
Gross Unrealized Losses	(471)	(69)
Fair Value	3,230	3,229
Tax-exempt municipal securities
Debt Securities Amortized Cost to Fair Value
Amortized Cost	765	810
Gross Unrealized Gains	0	33
Gross Unrealized Losses	(37)	(2)
Fair Value	728	841
Residential
Debt Securities Amortized Cost to Fair Value
Amortized Cost	477	373
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(76)	(6)
Fair Value	401	367
Commercial
Debt Securities Amortized Cost to Fair Value
Amortized Cost	1,554	1,394
Gross Unrealized Gains	0	27
Gross Unrealized Losses	(155)	(11)
Fair Value	1,399	1,410
Asset-backed securities
Debt Securities Amortized Cost to Fair Value
Amortized Cost	1,809	1,346
Gross Unrealized Gains	1	6
Gross Unrealized Losses	(79)	(4)
Fair Value	1,731	1,348
Corporate debt securities
Debt Securities Amortized Cost to Fair Value
Amortized Cost	6,551	5,641
Gross Unrealized Gains	3	118
Gross Unrealized Losses	(828)	(59)
Fair Value	$ 5,726	$ 5,700

INVESTMENT SECURITIES - Gross Unrealized Losses and Fair Values of Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Less than 12 months	$ 4,419	$ 4,990
12 months or more	8,962	2,547
Total	13,381	7,537
Gross Unrealized Losses
Less than 12 months	(270)	(94)
12 months or more	(1,431)	(67)
Total	(1,701)	(161)
U.S. Treasury and agency obligations
Fair Value
Less than 12 months	512	201
12 months or more	397	355
Total	909	556
Gross Unrealized Losses
Less than 12 months	(5)	(3)
12 months or more	(50)	(7)
Total	(55)	(10)
Mortgage-backed securities
Fair Value
Less than 12 months	1,231	2,082
12 months or more	1,683	556
Total	2,914	2,638
Gross Unrealized Losses
Less than 12 months	(104)	(49)
12 months or more	(367)	(20)
Total	(471)	(69)
Tax-exempt municipal securities
Fair Value
Less than 12 months	64	68
12 months or more	615	34
Total	679	102
Gross Unrealized Losses
Less than 12 months	(2)	(1)
12 months or more	(36)	(1)
Total	(38)	(2)
Residential
Fair Value
Less than 12 months	124	358
12 months or more	274	8
Total	398	366
Gross Unrealized Losses
Less than 12 months	(16)	(6)
12 months or more	(60)	0
Total	(76)	(6)
Commercial
Fair Value
Less than 12 months	243	295
12 months or more	1,157	400
Total	1,400	695
Gross Unrealized Losses
Less than 12 months	(13)	(4)
12 months or more	(142)	(7)
Total	(155)	(11)
Asset-backed securities
Fair Value
Less than 12 months	620	530
12 months or more	1,011	425
Total	1,631	955
Gross Unrealized Losses
Less than 12 months	(32)	(3)
12 months or more	(46)	(1)
Total	(78)	(4)
Corporate debt securities
Fair Value
Less than 12 months	1,625	1,456
12 months or more	3,825	769
Total	5,450	2,225
Gross Unrealized Losses
Less than 12 months	(98)	(28)
12 months or more	(730)	(31)
Total	$ (828)	$ (59)

INVESTMENT SECURITIES - Narrative (Details) $ in Millions	12 Months Ended
INVESTMENT SECURITIES - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($) position	Dec. 31, 2021 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Book value	$ 15,946	$ 13,440
Fair Value	$ 14,254	$ 13,497
Maximum individual state general bond obligation as a percentage of total debt securities (percent)	1.00%
Securities in unrealized loss position, number of positions \| position	1,625
Securities, number of positions \| position	1,710
Standard & Poor's, AA- Rating
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of debt securities considered to be of investment-grade (percent)	96.00%
Disposed of by sale \| Kindred at Home, Hospice and Personal Care Divisions
Financing Receivable, Credit Quality Indicator [Line Items]
Book value	$ 280
Fair Value	$ 278

INVESTMENT SECURITIES - Realized Gains (Losses) Included Within Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gross gains on investment securities	$ 62	$ 219	$ 110
Gross losses on investment securities	(144)	(8)	(18)
Gross gains on equity securities	51	23	746
Gross losses on equity securities	(174)	(364)	0
Net recognized (losses) gains on investment securities	$ (205)	$ (130)	$ 838

INVESTMENT SECURITIES - Gains (Losses) on Equity Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Net (losses) gains recognized on equity securities during the period	$ (123)	$ (341)	$ 746
Less: Net losses recognized on equity securities sold during the period	(105)	(13)	0
Unrealized (losses) gains recognized on equity securities still held at the end of the period	$ (18)	$ (328)	$ 746

INVESTMENT SECURITIES - Contractual Maturities of Debt Securities Available for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due within one year	$ 529
Due after one year through five years	3,399
Due after five years through ten years	3,231
Due after ten years	1,250
Mortgage and asset-backed securities	7,537
Amortized Cost	15,946	$ 13,440
Fair Value
Due within one year	525
Due after one year through five years	3,210
Due after five years through ten years	2,764
Due after ten years	994
Mortgage and asset-backed securities	6,761
Fair Value	$ 14,254	$ 13,497

FAIR VALUE - Narrative (Details) - USD ($)	12 Months Ended
FAIR VALUE - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Aug. 11, 2022	Apr. 27, 2021	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset value	$ 101,000,000	$ 68,000,000				$ 0
Termination of put and call options		$ 377,000,000
Disposed of by sale \| Kindred at Home, Hospice and Personal Care Divisions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity interest to be sold			60.00%
Fair Value Risk \| Unobservable Inputs (Level 3) \| Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Concentration risk (percent)	0.50%	0.40%
Put option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of financial liability	$ 267,000,000	$ 202,000,000
Call option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of financial asset	10,000,000	13,000,000
Other long-term liabilities \| Put option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of financial liability				$ 0	$ 63,000,000
Other long-term assets \| Call option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of financial asset				$ 0	$ 440,000,000
Kindred at Home
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity interest to be acquired per agreement (percent)				60.00%
Term Loan And Commercial Paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt	1,100,000,000	3,500,000,000
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding	10,000,000,000	9,000,000,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding	$ 9,400,000,000	$ 10,000,000,000

FAIR VALUE - Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at January 1	$ 68	$ 0
Total gains or losses:
Realized in earnings	0	0
Unrealized in other comprehensive income	(14)	(1)
Purchases	47	69
Sales	0	0
Settlements	0	0
Balance at December 31	$ 101	$ 68

FAIR VALUE - Put and Call Options Measured at Fair Value (Details) - Options - Level 3 fair value measurement	Dec. 31, 2022	Dec. 31, 2021
Annualized volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs		0.224
Annualized volatility \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.167
Annualized volatility \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.208
Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs		0.009
Credit spread \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.013
Credit spread \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.015
Revenue exit multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	1.5	1.5
Revenue exit multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	2.5	2.5
Weighted average cost of capital
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs		0.125
Weighted average cost of capital \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.115
Weighted average cost of capital \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.125
Long term growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	0.030	0.030

MEDICARE PART D (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Other current assets	$ 5,567	$ 6,493
Trade accounts payable and accrued expenses	(5,238)	(4,509)
Other long-term assets	3,380	4,379
Other long-term liabilities	(1,473)	(2,383)
Risk Corridor Settlement
Segment Reporting Information [Line Items]
Other current assets	240	363
Trade accounts payable and accrued expenses	(166)	(68)
Net current asset (liability)	74	295
Other long-term assets	19	5
Other long-term liabilities	(78)	(194)
Net long-term liability	(59)	(189)
Total net asset (liability)	15	106
CMS Subsidies/ Discounts
Segment Reporting Information [Line Items]
Other current assets	696	1,894
Trade accounts payable and accrued expenses	(1,236)	(466)
Net current asset (liability)	(540)	1,428
Other long-term assets	0	0
Other long-term liabilities	0	0
Net long-term liability	0	0
Total net asset (liability)	$ (540)	$ 1,428

PROPERTY AND EQUIPMENT, NET - Property and Equipment Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 6,357	$ 5,947
Accumulated depreciation	(3,136)	(2,874)
Property and equipment, net	3,221	3,073
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17	17
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,143	1,126
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,246	1,148
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,951	$ 3,656

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 749	$ 640	$ 528
Amortization expense for capitalized internally developed and purchased software	$ 525	$ 443	$ 351

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill by Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 11,092	$ 4,447
Acquisitions	381	6,645
Dispositions	(2,331)
Ending balance	9,142	11,092
Insurance
Goodwill [Roll Forward]
Beginning balance	2,290	1,892
Acquisitions	182	398
Dispositions	0
Ending balance	2,472	2,290
CenterWell
Goodwill [Roll Forward]
Beginning balance	8,802	2,555
Acquisitions	199	6,247
Dispositions	(2,331)
Ending balance	$ 6,670	$ 8,802

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Details of Intangible Assets Included in Other Long-Term Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other intangible assets:
Weighted Average Life	9 years 1 month 6 days
Accumulated Amortization	$ 883	$ 804
Total other intangible assets, cost	2,648	3,443
Total other intangible assets, net	1,765	2,639
Certificates of need
Other intangible assets:
Indefinite-lived intangible assets	1,132	1,771
Medicare licenses
Other intangible assets:
Indefinite-lived intangible assets	$ 286	522
Customer contracts/relationships
Other intangible assets:
Weighted Average Life	9 years 3 months 18 days
Cost	$ 929	883
Accumulated Amortization	673	620
Net	$ 256	263
Trade names and technology
Other intangible assets:
Weighted Average Life	6 years 8 months 12 days
Cost	$ 142	160
Accumulated Amortization	107	97
Net	$ 35	63
Provider contracts
Other intangible assets:
Weighted Average Life	11 years 7 months 6 days
Cost	$ 73	72
Accumulated Amortization	63	57
Net	$ 10	15
Noncompetes and other
Other intangible assets:
Weighted Average Life	8 years 4 months 24 days
Cost	$ 86	35
Accumulated Amortization	40	30
Net	$ 46	$ 5

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 81	$ 65	$ 88

GOODWILL AND OTHER INTANGIBLE ASSETS - Estimate of Amortization Expense (Details) $ in Millions	Dec. 31, 2022 USD ($)
Estimate of Amortization Expense
2023	$ 63
2024	55
2025	53
2026	41
2027	$ 31

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
ROU asset, balance sheet line item	Other long-term assets	Other long-term assets
ROU assets included within other long-term assets	$ 515	$ 678
Operating lease liabilities current, balance sheet line item	Trade accounts payable and accrued expenses	Trade accounts payable and accrued expenses
Operating lease liabilities included within trade accounts payable and accrued expenses	$ 152	$ 185
Operating lease liabilities noncurrent, balance sheet line item	Other long-term liabilities	Other long-term liabilities
Operating lease liabilities included within other long-term liabilities	$ 456	$ 546
Fixed operating lease costs	183	159	$ 141
Variable lease costs	101	94	92
Sublease rental income	$ 52	$ 43	36
Weighted average remaining lease term (in years)	5 years 4 months 24 days	5 years 4 months 24 days
Weighted average discount rate (percent)	3.20%	3.20%
Operating lease cash payments	$ 191	$ 165	$ 146

LEASES - Maturity of Lease Liabilities (Details) $ in Millions	Dec. 31, 2022 USD ($)
Maturity of Lease Liabilities
2023	$ 171
2024	141
2025	114
2026	72
2027	49
After 2027	116
Total lease payments	663
Less: Interest	55
Present value of lease liabilities	$ 608

BENEFITS PAYABLE - Activity in Benefits Payable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balances, beginning of period	$ 8,289	$ 8,143	$ 6,004
Less: Reinsurance recoverables	0	0	(68)
Balances, beginning of period, net	8,289	8,143	5,936
Acquisitions	0	42	0
Incurred related to:
Current year	76,105	70,024	61,941
Prior years	(415)	(825)	(313)
Total incurred	75,690	69,199	61,628
Paid related to:
Current year	(67,287)	(62,149)	(54,003)
Prior years	(7,428)	(6,946)	(5,418)
Total paid	(74,715)	(69,095)	(59,421)
Reinsurance recoverable		0	0
Balances, end of period	$ 9,264	$ 8,289	$ 8,143

BENEFITS PAYABLE - Narrative (Details) claim in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Claims Development [Line Items]
Total IBNR \| $	$ 5,700
Favorable medical claims reserve development related to prior fiscal years \| $	$ 415	$ 825	$ 313
2022 Claims Incurred Year
Claims Development [Line Items]
Cumulative number of reported claims	173.5
2021 Claims Incurred Year
Claims Development [Line Items]
Cumulative number of reported claims	173.3
2020 Claims Incurred Year
Claims Development [Line Items]
Cumulative number of reported claims	149.8

BENEFITS PAYABLE - Incurred and Paid Claims Development (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Claims Development [Line Items]
Incurred Claims, Net of Reinsurance	$ 207,027
Cumulative Paid Claims, Net of Reinsurance	197,763
Benefits payable, net of reinsurance	9,264
2020 Claims Incurred Year
Claims Development [Line Items]
Incurred Claims, Net of Reinsurance	61,224	$ 61,258	$ 61,941
Cumulative Paid Claims, Net of Reinsurance	61,224	60,886	$ 54,003
2021 Claims Incurred Year
Claims Development [Line Items]
Incurred Claims, Net of Reinsurance	69,698	70,066
Cumulative Paid Claims, Net of Reinsurance	69,252	$ 62,149
2022 Claims Incurred Year
Claims Development [Line Items]
Incurred Claims, Net of Reinsurance	76,105
Cumulative Paid Claims, Net of Reinsurance	$ 67,287

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal	$ 755	$ 466	$ 1,019
States and Puerto Rico	107	4	93
Total current provision	862	470	1,112
Deferred (benefit) expense	(100)	15	195
Provision for income taxes	$ 762	$ 485	$ 1,307

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Provision for Income Taxes Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax provision at federal statutory rate	$ 750	$ 718	$ 982
States, net of federal benefit, and Puerto Rico	49	18	63
Tax exempt investment income	(3)	(3)	(5)
Nondeductible executive compensation	30	33	19
Non-taxable KAH gain	0	(264)	0
Tax effect from sale of KAH Hospice	(72)	0	0
Health insurance industry fee	0	0	268
Other, net	8	(17)	(20)
Provision for income taxes	$ 762	$ 485	$ 1,307

INCOME TAXES - Principal Components of Net Deferred Tax Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 105	$ 291
Compensation and other accrued expense	158	186
Benefits payable	103	67
Deferred acquisition costs	43	33
Jobs tax credits	22	33
Other	16	25
Unearned revenues	7	8
Investment securities	454	0
Total deferred income tax assets	908	643
Valuation allowance	(57)	(65)
Total deferred income tax assets, net of valuation allowance	851	578
Depreciable property and intangible assets	(740)	(1,072)
Prepaid expenses	(132)	(102)
Investment securities	0	(98)
Other	(6)	(4)
Total deferred income tax liabilities	(878)	(1,276)
Total net deferred income tax liabilities	$ (27)	$ (698)

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Tax Credit Carryforward [Line Items]
Valuation allowances on net operating loss carryforwards related to prior acquisitions	$ 57	$ 65
Federal
Tax Credit Carryforward [Line Items]
Net operating losses to carryforward related to prior acquisitions	68
State and Puerto Rico
Tax Credit Carryforward [Line Items]
Net operating losses to carryforward related to prior acquisitions	$ 1,600

DEBT - Debt Outstanding (Details) - USD ($)	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total short-term debt	$ 2,092,000,000		$ 1,953,000,000
Long-term debt	9,034,000,000		10,541,000,000
Senior notes
Debt Instrument [Line Items]
Long-term debt, current maturities	1,497,000,000		998,000,000
Senior notes \| $1,500 million, 0.65% due August 3, 2023
Debt Instrument [Line Items]
Aggregate principal	$ 1,500,000,000
Stated interest rate (percent)	0.65%
Long-term debt, current maturities	$ 1,497,000,000		0
Long-term debt	0		1,492,000,000
Senior notes \| $600 million, 3.15% due December 1, 2022
Debt Instrument [Line Items]
Aggregate principal	$ 600,000,000
Stated interest rate (percent)	3.15%
Long-term debt, current maturities	$ 0		599,000,000
Senior notes \| $400 million, 2.90% due December 15, 2022
Debt Instrument [Line Items]
Aggregate principal	$ 400,000,000
Stated interest rate (percent)	2.90%
Long-term debt, current maturities	$ 0		399,000,000
Senior notes \| $600 million, 3.85% due October 1, 2024
Debt Instrument [Line Items]
Aggregate principal	$ 600,000,000
Stated interest rate (percent)	3.85%
Long-term debt	$ 599,000,000		598,000,000
Senior notes \| $600 million, 4.50% due April 1, 2025
Debt Instrument [Line Items]
Aggregate principal	$ 600,000,000
Stated interest rate (percent)	4.50%
Long-term debt	$ 597,000,000		596,000,000
Senior notes \| $750 million 1.35% due February 3, 2027
Debt Instrument [Line Items]
Aggregate principal	$ 750,000,000
Stated interest rate (percent)	1.35%
Long-term debt	$ 745,000,000		742,000,000
Senior notes \| $600 million, 3.95% due March 15, 2027
Debt Instrument [Line Items]
Aggregate principal	$ 600,000,000
Stated interest rate (percent)	3.95%
Long-term debt	$ 597,000,000		596,000,000
Senior notes \| $500 million, 5.75% due March 1, 2028
Debt Instrument [Line Items]
Aggregate principal	$ 500,000,000
Stated interest rate (percent)	5.75%
Long-term debt	$ 494,000,000		0
Senior notes \| $750 million, 3.70% due March 23, 2029
Debt Instrument [Line Items]
Aggregate principal	$ 750,000,000	$ 750,000,000
Stated interest rate (percent)	3.70%	3.70%
Long-term debt	$ 743,000,000		0
Senior notes \| $500 million, 3.13% due August 15, 2029
Debt Instrument [Line Items]
Aggregate principal	$ 500,000,000
Stated interest rate (percent)	3.13%
Long-term debt	$ 496,000,000		496,000,000
Senior notes \| $500 million, 4.88% due April 1, 2030
Debt Instrument [Line Items]
Aggregate principal	$ 500,000,000
Stated interest rate (percent)	4.88%
Long-term debt	$ 495,000,000		495,000,000
Senior notes \| $750 million, 2.15% due February 3, 2032
Debt Instrument [Line Items]
Aggregate principal	$ 750,000,000
Stated interest rate (percent)	2.15%
Long-term debt	$ 743,000,000		741,000,000
Senior notes \| $750 million, 5.88% due March 1, 2033
Debt Instrument [Line Items]
Aggregate principal	$ 750,000,000
Stated interest rate (percent)	5.88%
Long-term debt	$ 739,000,000		0
Senior notes \| $250 million, 8.15% due June 15, 2038
Debt Instrument [Line Items]
Aggregate principal	$ 250,000,000
Stated interest rate (percent)	8.15%
Long-term debt	$ 261,000,000		261,000,000
Senior notes \| $400 million, 4.63% due December 1, 2042
Debt Instrument [Line Items]
Aggregate principal	$ 400,000,000
Stated interest rate (percent)	4.63%
Long-term debt	$ 396,000,000		396,000,000
Senior notes \| $750 million, 4.95% due October 1, 2044
Debt Instrument [Line Items]
Aggregate principal	$ 750,000,000
Stated interest rate (percent)	4.95%
Long-term debt	$ 740,000,000		740,000,000
Senior notes \| $400 million, 4.80% due March 15, 2047
Debt Instrument [Line Items]
Aggregate principal	$ 400,000,000
Stated interest rate (percent)	4.80%
Long-term debt	$ 396,000,000		395,000,000
Senior notes \| $500 million, 3.95% due August 15, 2049
Debt Instrument [Line Items]
Aggregate principal	$ 500,000,000
Stated interest rate (percent)	3.95%
Long-term debt	$ 493,000,000		493,000,000
Loans Payable \| Term loan, due October 29, 2023
Debt Instrument [Line Items]
Long-term debt	0		2,000,000,000
Loans Payable \| Delayed draw term loan, due May 28, 2024
Debt Instrument [Line Items]
Long-term debt	500,000,000		500,000,000
Commercial paper
Debt Instrument [Line Items]
Short-term debt	$ 595,000,000		$ 955,000,000

DEBT - Maturities of Debt (Details) $ in Millions	Dec. 31, 2022 USD ($)
Maturities of debt
2023	$ 2,095
2024	1,100
2025	600
2026	0
2027	1,350
Thereafter	$ 6,050

DEBT - Senior Notes (Details) - USD ($)			1 Months Ended		12 Months Ended
DEBT - Senior Notes (Details) - USD ($)	Dec. 15, 2022	Dec. 01, 2022	Nov. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Proceeds from issuance of senior notes, net					$ 1,982,000,000	$ 2,984,000,000	$ 1,088,000,000
Senior notes
Debt Instrument [Line Items]
Redemption price, percentage					100.00%
Senior notes \| $250 million, 8.15% due June 15, 2038
Debt Instrument [Line Items]
Stated interest rate (percent)					8.15%
Aggregate principal					$ 250,000,000
Senior notes \| 5.570 Percent Senior Notes Due March 2028 And 5.875 Percent Senior Notes Due March 2033
Debt Instrument [Line Items]
Proceeds from issuance of senior notes, net			$ 1,200,000,000
Senior notes \| 5.570 Percent Senior Notes Due March 2028
Debt Instrument [Line Items]
Stated interest rate (percent)			5.75%
Aggregate principal			$ 500,000,000
Senior notes \| 5.875 Percent Senior Notes Due March 2033
Debt Instrument [Line Items]
Stated interest rate (percent)			5.875%
Aggregate principal			$ 750,000,000
Senior notes \| $750 million, 3.70% due March 23, 2029
Debt Instrument [Line Items]
Stated interest rate (percent)				3.70%	3.70%
Aggregate principal				$ 750,000,000	$ 750,000,000
Proceeds from issuance of senior notes, net				$ 744,000,000
Senior notes \| $600 million, 3.15% due December 1, 2022
Debt Instrument [Line Items]
Stated interest rate (percent)					3.15%
Repayment of debt		$ 600,000,000
Aggregate principal					$ 600,000,000
Senior notes \| $400 million, 2.90% due December 15, 2022
Debt Instrument [Line Items]
Stated interest rate (percent)					2.90%
Repayment of debt	$ 400,000,000
Aggregate principal					$ 400,000,000

DEBT - Delayed Draw Term Loan Credit Agreement (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2021	May 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 17, 2021
Short-term Debt [Line Items]
Proceeds from term loan			$ 0	$ 2,500	$ 1,000
Kindred at Home
Short-term Debt [Line Items]
Transaction amount, net of existing equity stake	$ 5,800					$ 5,800
Loans Payable
Short-term Debt [Line Items]
Debt to capitalization percentage, maximum			60.00%
Actual debt to capitalization percentage			42.00%
Delayed Draw Term Loan May 2021 \| Loans Payable
Short-term Debt [Line Items]
Aggregate principal		$ 500
Proceeds from term loan	$ 500
Delayed Draw Term Loan May 2021 \| Loans Payable \| LIBOR
Short-term Debt [Line Items]
Basis points spread on variable rate (percent)		1.25%
Delayed Draw Term Loan May 2021 \| Loans Payable \| LIBOR \| Minimum
Short-term Debt [Line Items]
Basis points spread on variable rate (percent)		1.00%
Delayed Draw Term Loan May 2021 \| Loans Payable \| LIBOR \| Maximum
Short-term Debt [Line Items]
Basis points spread on variable rate (percent)		1.625%

DEBT - October 2021 Term Loan Agreement (Details) - USD ($)		12 Months Ended
	Oct. 29, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 16, 2022
Debt Instrument [Line Items]
Repayment of term loan		$ 2,000,000,000	$ 2,078,000,000	$ 1,000,000,000
October 2021 Term Loan Agreement \| Loans Payable
Debt Instrument [Line Items]
Aggregate principal	$ 2,000,000,000				$ 2,000,000,000
Gentiva Term Loan Due 2025 \| Loans Payable
Debt Instrument [Line Items]
Repayment of term loan	$ 1,900,000,000

DEBT - Revolving Credit Agreements (Details) - USD ($)	1 Months Ended		12 Months Ended
DEBT - Revolving Credit Agreements (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022
Loans Payable
Line of Credit Facility [Line Items]
Debt to capitalization percentage, maximum			60.00%
Actual debt to capitalization percentage			42.00%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt to capitalization percentage, maximum			60.00%
Uncommitted incremental loan facility			$ 750,000,000
Maximum borrowing capacity including uncommitted incremental loan facility			4,750,000,000
Line of credit, outstanding borrowings			$ 0
Revolving Credit Facility \| Revolving Credit Agreement June 2021 Five Year
Line of Credit Facility [Line Items]
Debt instrument term (in years)		5 years	5 years
Maximum borrowing capacity		$ 2,500,000,000
Facility fee (percent)			0.15%
Remaining borrowing capacity			$ 2,400,000,000
Revolving Credit Facility \| Revolving Credit Agreement June 2021 Five Year \| Minimum
Line of Credit Facility [Line Items]
Facility fee (percent)			0.09%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 Five Year \| Maximum
Line of Credit Facility [Line Items]
Facility fee (percent)			0.225%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 Five Year \| LIBOR
Line of Credit Facility [Line Items]
Basis points spread on variable rate (percent)			1.10%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 Five Year \| LIBOR \| Minimum
Line of Credit Facility [Line Items]
Basis points spread on variable rate (percent)			0.91%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 Five Year \| LIBOR \| Maximum
Line of Credit Facility [Line Items]
Basis points spread on variable rate (percent)			1.40%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 One Year
Line of Credit Facility [Line Items]
Debt instrument term (in years)	364 days	364 days	364 days
Maximum borrowing capacity	$ 1,500,000,000	$ 1,500,000,000
Facility fee (percent)			0.10%
Remaining borrowing capacity			$ 1,500,000,000
Revolving Credit Facility \| Revolving Credit Agreement June 2021 One Year \| Minimum
Line of Credit Facility [Line Items]
Facility fee (percent)			0.06%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 One Year \| Maximum
Line of Credit Facility [Line Items]
Facility fee (percent)			0.15%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 One Year \| SOFR
Line of Credit Facility [Line Items]
Basis points spread on variable rate (percent)			1.15%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 One Year \| SOFR \| Minimum
Line of Credit Facility [Line Items]
Basis points spread on variable rate (percent)			0.94%
Revolving Credit Facility \| Revolving Credit Agreement June 2021 One Year \| SOFR \| Maximum
Line of Credit Facility [Line Items]
Basis points spread on variable rate (percent)			1.35%
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, outstanding borrowings			$ 45,000,000

DEBT - Commercial Paper and Other Short-term Borrowings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 10, 2022	Dec. 31, 2021
Commercial paper
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 4,000,000,000	$ 2,000,000,000
Maximum amount outstanding during period	$ 1,450,000,000
Short-term debt outstanding	$ 595,000,000		955,000,000
Weighted average annual interest rate (percent)	4.92%
Federal Home Loan Bank Advances
Short-term Debt [Line Items]
Short-term debt outstanding	$ 0		$ 0

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee retirement and savings plan cost	$ 286,000,000	$ 259,000,000	$ 236,000,000
Company common stock closing price (in dollars per share)	$ 512.19
Plan assets invested in Company common stock (percent)	11.00%
Plan assets invested in Company common stock (in shares)	1.4
Shares of common stock plan assets as percentage of shares outstanding	1.10%
Number of shares of common stock reserved for issuance under defined contribution retirement savings plan (in shares)	5.8
Accelerated vesting, termination of employment period	2 years
Combination of age and years necessary for retirement provision as related to our equity award program	65 years
Minimum age required for retirement eligibility as related to our equity award program	55 years
Minimum number of years of service for retirement eligibility as related to our equity award program	5 years
Actual realized tax benefit on tax returns from option exercises and restricted stock vesting	$ 31,000,000	28,000,000	32,000,000
Capitalized stock-based compensation expense	0	0	0
Fair value of shares vested	244,000,000	236,000,000	191,000,000
Aggregate intrinsic value of stock options outstanding	$ 26,000,000
Weighted-average remaining contractual term of outstanding options (in years)	4 years 10 months 24 days
Aggregate intrinsic value of stock options exercisable	$ 8,000,000
Weighted-average remaining contractual term of exercisable options (in years)	4 years 1 month 6 days
Total intrinsic value of stock options exercised	$ 32,000,000	18,000,000	51,000,000
Proceeds from stock options exercised	$ 51,000,000	$ 30,000,000	$ 61,000,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Weighted-average grant date fair value (in dollars per share)	$ 430.06	$ 381.34	$ 354.66
Percentage of restricted stock with performance-based conditions	36.00%
Total compensation expense not yet recognized related to nonvested awards	$ 202,000,000
Compensation expense recognition over a weighted-average period (in years)	1 year 8 months 12 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense not yet recognized related to nonvested awards	$ 7,000,000
Compensation expense recognition over a weighted-average period (in years)	1 year 8 months 12 days
Expiration period (in years)	7 years
Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
2011 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares reserved for stock award plans (in shares)	11.0
2011 Plan \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants assuming all stock options or restricted stock are granted (in shares)	1.4
2011 Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants assuming all stock options or restricted stock are granted (in shares)	3.3
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares reserved for stock award plans (in shares)	15.3
2019 Plan \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants assuming all stock options or restricted stock are granted (in shares)	3.4
2019 Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants assuming all stock options or restricted stock are granted (in shares)	11.2

EMPLOYEE BENEFIT PLANS - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock-based compensation expense [Line Items]
Total stock-based compensation expense	$ 216	$ 180	$ 181
Tax benefit recognized	(28)	(15)	(29)
Stock-based compensation expense, net of tax	188	165	152
Restricted stock
Stock-based compensation expense [Line Items]
Total stock-based compensation expense	207	171	171
Stock options
Stock-based compensation expense [Line Items]
Total stock-based compensation expense	$ 9	$ 9	$ 10

EMPLOYEE BENEFIT PLANS - Restricted Stock Activity (Details) - Restricted stock - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Nonvested restricted stock, beginning balance (in shares)	873
Granted (in shares)	492
Vested (in shares)	(449)
Forfeited (in shares)	(103)
Nonvested restricted stock, ending balance (in shares)	813	873
Weighted- Average Grant-Date Fair Value
Nonvested restricted stock, beginning balance (in dollars per share)	$ 380.55
Granted (in dollars per share)	430.06	$ 381.34	$ 354.66
Vested (in dollars per share)	342.42
Forfeited (in dollars per share)	292.28
Nonvested restricted stock, ending balance (in dollars per share)	$ 429.22	$ 380.55

EMPLOYEE BENEFIT PLANS - Weighted-Average Fair Value Assumptions for Stock Options (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value at grant date (in dollars per share)	$ 113.35	$ 92.21	$ 69.73
Expected option life (years)	3 years 7 months 6 days	3 years 8 months 12 days	4 years
Expected volatility	36.10%	33.80%	24.90%
Risk-free interest rate at grant date	1.80%	0.40%	1.20%
Dividend yield	0.70%	0.70%	0.70%

EMPLOYEE BENEFIT PLANS - Option Plans Activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares Under Option
Options outstanding, beginning balance (in shares) \| shares	310
Granted (in shares) \| shares	65
Exercised (in shares) \| shares	(163)
Forfeited (in shares) \| shares	(8)
Options outstanding, ending balance (in shares) \| shares	204
Options exercisable, ending balance (in shares) \| shares	48
Weighted-Average Exercise Price
Options outstanding, beginning balance (in dollars per share) \| $ / shares	$ 339.08
Granted (in dollars per share) \| $ / shares	425.32
Exercised (in dollars per share) \| $ / shares	319.27
Forfeited (in dollars per share) \| $ / shares	370.26
Options outstanding, ending balance (in dollars per share) \| $ / shares	381.37
Options exercisable, ending balance (in dollars per share) \| $ / shares	$ 345.90

EARNINGS PER COMMON SHARE COMPUTATION (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income available for common stockholders	$ 2,806	$ 2,933	$ 3,367
Weighted-average outstanding shares of common stock used to compute basic earnings per common share (in shares)	126,419	128,688	132,199
Shares used to compute diluted earnings per common share (in shares)	127,094	129,396	133,012
Basic earnings per common share (in dollars per share)	$ 22.20	$ 22.79	$ 25.47
Diluted earnings per common share (in dollars per share)	$ 22.08	$ 22.67	$ 25.31
Number of antidilutive stock options and restricted stock awards excluded from computation (in shares)	205	216	238
Employee stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of employee stock options and restricted stock (in shares)	50	64	92
Restricted stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of employee stock options and restricted stock (in shares)	625	644	721

STOCKHOLDERS' EQUITY - Dividend Payments (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Amount per share (in dollars per share)	$ 3.06	$ 2.73	$ 2.43
Total Amount	$ 390	$ 351	$ 322

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands												1 Months Ended			4 Months Ended	12 Months Ended
	Dec. 16, 2022	Dec. 16, 2022	Dec. 15, 2022	Nov. 02, 2022	Mar. 30, 2022	Mar. 30, 2022	Mar. 29, 2022	Jan. 12, 2022	May 05, 2021	May 04, 2021	Dec. 23, 2020	Feb. 16, 2023	Oct. 31, 2022	Dec. 31, 2020	May 05, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 15, 2023	Nov. 04, 2022	Nov. 03, 2022	Jan. 11, 2022	Feb. 18, 2021	Dec. 22, 2020	Jul. 30, 2019
Equity, Class of Treasury Stock [Line Items]
Cash dividend declared (in dollars per share)													$ 0.79
Dividends paid																$ 98,000,000
Share repurchase authorization																							$ 3,000,000,000		$ 3,000,000,000
Increase in treasury stock from share repurchases																$ 2,096,000,000	$ 79,000,000	$ 1,820,000,000
Remaining authorized amount																							$ 1,000,000,000
Common shares acquired in connection with employee stock plans (in shares)																200	200	200
Common shares acquired in connection with employee stock plans, amount																$ 96,000,000	$ 79,000,000	$ 70,000,000
Aggregate statutory capital and surplus in our state regulated insurance subsidiaries																11,300,000,000	9,600,000,000
Aggregate minimum regulatory requirements of statutory capital and surplus																8,400,000,000	7,600,000,000
Ordinary dividends that may be paid to parent company																1,800,000,000
Actual dividends paid to parent company																$ 1,300,000,000	$ 1,600,000,000	$ 1,300,000,000
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Cash dividend declared (in dollars per share)												$ 0.8850
Share repurchase authorization																			$ 3,000,000,000
Remaining authorized amount																			$ 1,000,000,000
December 2020 ASR
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase agreement amount																								$ 1,750,000,000
Accelerated share repurchase payment											$ 1,750,000,000
Shares received (in shares)											3,800				4,400
Increase in treasury stock from share repurchases														$ 1,500,000,000
Decrease in capital in excess of par value											$ 262,500,000
Reclassification from capital in excess of par value to treasury stock									$ 262,500,000
December 2020 ASR \| Citi
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase payment											$ 875,000,000
Shares received (in shares)										300	1,900
Average daily volume weighted-average share price of common stock during term of agreement (in dollars per share)										$ 400.07
December 2020 ASR \| JPM
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase payment											$ 875,000,000
Shares received (in shares)									300		1,900
Average daily volume weighted-average share price of common stock during term of agreement (in dollars per share)									$ 401.49
January 2022 ASR
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase agreement amount																						$ 1,000,000,000
Accelerated share repurchase payment								$ 1,000,000,000
Shares received (in shares)								2,200								2,400
Increase in treasury stock from share repurchases								$ 850,000,000
Decrease in capital in excess of par value								150,000,000
Reclassification from capital in excess of par value to treasury stock					$ 150,000,000
January 2022 ASR \| Mizuho Markets Americas LLC
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase payment								$ 500,000,000
Shares received (in shares)							100	1,080
Average daily volume weighted-average share price of common stock during term of agreement (in dollars per share)							$ 410.96
January 2022 ASR \| Wells Fargo Bank
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase payment								$ 500,000,000
Shares received (in shares)						100		1,080
Average daily volume weighted-average share price of common stock during term of agreement (in dollars per share)						$ 411.66
November 2022 ASR
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase agreement amount				$ 1,000,000,000
Accelerated share repurchase payment				$ 1,000,000,000
Shares received (in shares)				1,500				1,500								1,800
Increase in treasury stock from share repurchases				$ 850,000,000
Decrease in capital in excess of par value				$ 150,000,000
Reclassification from capital in excess of par value to treasury stock	$ 150,000,000
November 2022 ASR \| Mizuho Markets Americas LLC
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase payment																				$ 500,000,000
Shares received (in shares)		177						760
Average daily volume weighted-average share price of common stock during term of agreement (in dollars per share)		$ 533.87
November 2022 ASR \| Goldman Sachs
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase payment																					$ 500,000,000
Shares received (in shares)			177					760
Average daily volume weighted-average share price of common stock during term of agreement (in dollars per share)			$ 534.16

STOCKHOLDERS' EQUITY - Share Repurchases (Details) - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 18, 2021	Jul. 30, 2019
Equity, Class of Treasury Stock [Line Items]
Share repurchase authorization				$ 3,000,000,000	$ 3,000,000,000
Cost of repurchases	$ 2,096,000,000	$ 79,000,000	$ 1,820,000,000
Excluding Employee Stock Plans and ASR
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	4,300	0	3,800
Cost of repurchases	$ 2,000,000,000	$ 0	$ 1,750,000,000
February 2021 Authorization
Equity, Class of Treasury Stock [Line Items]
Share repurchase authorization	$ 3,000,000,000
Shares repurchased (in shares)	4,300	0	0
Cost of repurchases	$ 2,000,000,000	$ 0	$ 0
July 2019 Authorization
Equity, Class of Treasury Stock [Line Items]
Share repurchase authorization	$ 3,000,000,000
Shares repurchased (in shares)	0	0	3,800
Cost of repurchases	$ 0	$ 0	$ 1,750,000,000

COMMITMENTS, GUARANTEES AND CONTINGENCIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) state beneficiary option_period
Loss Contingencies [Line Items]
Purchase obligations in 2023	$ 687
Purchase obligations in 2024	451
Purchase obligations in 2025	288
Purchase obligations in 2026	236
Purchase obligations in 2027	$ 153
Number of states comprising TRICARE beneficiaries \| state	32
Number of TRICARE beneficiaries \| beneficiary	6,000,000,000,000
Number of TRICARE Managed Care Support Contract beneficiaries \| beneficiary	4,600,000
Number of states comprising TRICARE Managed Care Support Contract beneficiaries \| state	24
Contract base term	1 year
Annual option periods \| option_period	8
Contract term with exercises	9 years
Medicare
Loss Contingencies [Line Items]
Percentage of premiums and services revenue	81.00%
Medicaid
Loss Contingencies [Line Items]
Percentage of premiums and services revenue	6.00%
Military services
Loss Contingencies [Line Items]
Percentage of premiums and services revenue	1.00%

SEGMENT INFORMATION - Narrative (Details) $ in Millions	12 Months Ended
SEGMENT INFORMATION - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Member co-share amounts and government subsidies	$ 19,700	$ 18,100	$ 16,500
Depreciation and amortization classified as benefit expense	$ 122	$ 108	$ 127
Government contracts concentration risk \| Premiums and services revenue \| Federal government contracts
Segment Reporting Information [Line Items]
Concentration risk (percent)	82.00%	83.00%	83.00%

SEGMENT INFORMATION - Segment Results (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Premiums	$ 87,712	$ 79,822	$ 74,186
Services revenue	4,776	3,055	1,815
Total revenues	92,870	83,064	77,155
Investment income	382	187	1,154
Benefits	75,690	69,199	61,628
Operating costs	12,671	10,121	10,052
Depreciation and amortization	709	596	489
Total operating expenses	89,070	79,916	72,169
Income from operations	3,800	3,148	4,986
Gain on sale of KAH Hospice	(237)	0	0
Interest expense	401	326	283
Other expense (income), net	68	(532)	103
Income before income taxes and equity in net (losses) earnings	3,568	3,354	4,600
Equity in net (losses) earnings	(4)	65	74
Segment earnings	3,564	3,419	4,674
Net (income) loss attributable to noncontrolling interests	4	(1)
Segment earnings (loss) attributable to Humana	3,568	3,418
Individual Medicare Advantage
Segment Reporting Information [Line Items]
Premiums	65,591	58,654	51,697
Group Medicare Advantage
Segment Reporting Information [Line Items]
Premiums	7,297	6,955	7,774
Medicare stand-alone PDP
Segment Reporting Information [Line Items]
Premiums	2,269	2,371	2,742
Total Medicare
Segment Reporting Information [Line Items]
Premiums	75,157	67,980	62,213
Fully-insured
Segment Reporting Information [Line Items]
Premiums	4,476	5,002	6,051
Specialty
Segment Reporting Information [Line Items]
Premiums	1,703	1,731	1,699
Medicaid and other
Segment Reporting Information [Line Items]
Premiums	6,376	5,109	4,223
Home solutions
Segment Reporting Information [Line Items]
Services revenue	2,333	1,166	107
Provider
Segment Reporting Information [Line Items]
Services revenue	568	413	328
ASO and other
Segment Reporting Information [Line Items]
Services revenue	850	853	813
Pharmacy
Segment Reporting Information [Line Items]
Services revenue	1,025	623	567
Insurance
Segment Reporting Information [Line Items]
Total revenues	88,841	80,930	74,597
Investment income	223	214	171
Total operating expenses	85,819	78,518	71,477
CenterWell
Segment Reporting Information [Line Items]
Total revenues	17,307	14,058	11,490
Investment income	8	4	13
Total operating expenses	16,016	13,120	10,866
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	92,488	82,877	76,001
Operating Segments \| Insurance
Segment Reporting Information [Line Items]
Premiums	87,712	79,822	73,584
Services revenue	850	853	813
Total revenues	88,562	80,675	74,397
Benefits	75,934	69,639	61,909
Operating costs	9,251	8,340	9,129
Depreciation and amortization	634	539	439
Income from operations	3,022	2,412	3,120
Gain on sale of KAH Hospice	0
Interest expense	0	0	0
Other expense (income), net	0	0	0
Income before income taxes and equity in net (losses) earnings	3,022	2,412	3,120
Equity in net (losses) earnings	18	0	0
Segment earnings	3,040	2,412	3,120
Net (income) loss attributable to noncontrolling interests	5	0
Segment earnings (loss) attributable to Humana	3,045	2,412
Operating Segments \| Insurance \| Individual Medicare Advantage
Segment Reporting Information [Line Items]
Premiums	65,591	58,654	51,697
Operating Segments \| Insurance \| Group Medicare Advantage
Segment Reporting Information [Line Items]
Premiums	7,297	6,955	7,774
Operating Segments \| Insurance \| Medicare stand-alone PDP
Segment Reporting Information [Line Items]
Premiums	2,269	2,371	2,742
Operating Segments \| Insurance \| Total Medicare
Segment Reporting Information [Line Items]
Premiums	75,157	67,980	62,213
Operating Segments \| Insurance \| Fully-insured
Segment Reporting Information [Line Items]
Premiums	4,476	5,002	5,449
Operating Segments \| Insurance \| Specialty
Segment Reporting Information [Line Items]
Premiums	1,703	1,731	1,699
Operating Segments \| Insurance \| Medicaid and other
Segment Reporting Information [Line Items]
Premiums	6,376	5,109	4,223
Operating Segments \| Insurance \| Home solutions
Segment Reporting Information [Line Items]
Services revenue	0	0	0
Operating Segments \| Insurance \| Provider
Segment Reporting Information [Line Items]
Services revenue	0	0	0
Operating Segments \| Insurance \| ASO and other
Segment Reporting Information [Line Items]
Services revenue	850	853	813
Operating Segments \| Insurance \| Pharmacy
Segment Reporting Information [Line Items]
Services revenue	0	0	0
Operating Segments \| CenterWell
Segment Reporting Information [Line Items]
Premiums	0	0	0
Services revenue	3,926	2,202	1,002
Total revenues	3,926	2,202	1,002
Benefits	0	0	0
Operating costs	15,835	12,968	10,706
Depreciation and amortization	181	152	160
Income from operations	1,291	938	624
Gain on sale of KAH Hospice	(237)
Interest expense	0	0	0
Other expense (income), net	0	0	0
Income before income taxes and equity in net (losses) earnings	1,528	938	624
Equity in net (losses) earnings	(22)	65	74
Segment earnings	1,506	1,003	698
Net (income) loss attributable to noncontrolling interests	(1)	(1)
Segment earnings (loss) attributable to Humana	1,505	1,002
Operating Segments \| CenterWell \| Individual Medicare Advantage
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Group Medicare Advantage
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Medicare stand-alone PDP
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Total Medicare
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Fully-insured
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Specialty
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Medicaid and other
Segment Reporting Information [Line Items]
Premiums	0	0	0
Operating Segments \| CenterWell \| Home solutions
Segment Reporting Information [Line Items]
Services revenue	2,333	1,166	107
Operating Segments \| CenterWell \| Provider
Segment Reporting Information [Line Items]
Services revenue	568	413	328
Operating Segments \| CenterWell \| ASO and other
Segment Reporting Information [Line Items]
Services revenue	0	0	0
Operating Segments \| CenterWell \| Pharmacy
Segment Reporting Information [Line Items]
Services revenue	1,025	623	567
Eliminations/ Corporate
Segment Reporting Information [Line Items]
Premiums			602
Total revenues	(13,278)	(11,924)	(8,932)
Investment income	151	(31)	970
Benefits	(244)	(440)	(281)
Operating costs	(12,415)	(11,187)	(9,783)
Depreciation and amortization	(106)	(95)	(110)
Total operating expenses	(12,765)	(11,722)	(10,174)
Income from operations	(513)	(202)	1,242
Gain on sale of KAH Hospice	0
Interest expense	401	326	283
Other expense (income), net	68	(532)	103
Income before income taxes and equity in net (losses) earnings	(982)	4	856
Equity in net (losses) earnings	0	0	0
Segment earnings	(982)	4	856
Net (income) loss attributable to noncontrolling interests	0	0
Segment earnings (loss) attributable to Humana	(982)	4
Eliminations/ Corporate \| Fully-insured
Segment Reporting Information [Line Items]
Premiums			602
Total revenues			602
Eliminations/ Corporate \| Insurance
Segment Reporting Information [Line Items]
Total revenues	56	41	29
Eliminations/ Corporate \| Insurance \| Services
Segment Reporting Information [Line Items]
Total revenues	56	41	29
Eliminations/ Corporate \| Insurance \| Products
Segment Reporting Information [Line Items]
Total revenues	0	0	0
Eliminations/ Corporate \| CenterWell
Segment Reporting Information [Line Items]
Total revenues	13,373	11,852	10,475
Eliminations/ Corporate \| CenterWell \| Services
Segment Reporting Information [Line Items]
Total revenues	3,532	2,828	2,547
Eliminations/ Corporate \| CenterWell \| Products
Segment Reporting Information [Line Items]
Total revenues	9,841	9,024	7,928
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	(13,429)	(11,893)	(10,504)
Intersegment Eliminations \| Services
Segment Reporting Information [Line Items]
Total revenues	(3,588)	(2,869)	(2,576)
Intersegment Eliminations \| Products
Segment Reporting Information [Line Items]
Total revenues	$ (9,841)	$ (9,024)	$ (7,928)

REINSURANCE (Details) $ in Millions	12 Months Ended
REINSURANCE (Details) $ in Millions	Dec. 31, 2022 USD ($) reinsurer	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 181	$ 188
Premiums ceded	5	6	$ 29
Benefits ceded	$ 2	2	$ 7
Number of reinsurers comprising other reinsurance recoverables balance \| reinsurer	10
Cash and securities in trusts held by certain reinsurers	$ 1
Protective Life Insurance Company
Effects of Reinsurance [Line Items]
Reinsurance recoverables	165
All others
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 16
100% coinsurance agreements
Effects of Reinsurance [Line Items]
Percentage of coinsurance agreement	100.00%
Reinsurance recoverables \| Reinsurer concentration risk
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 181	$ 188

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION (Condensed Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 5,061	$ 3,394
Investment securities	13,881	13,192
Other current assets	5,567	6,493
Total current assets	26,183	24,893
Property and equipment, net	3,221	3,073
Other long-term assets	3,380	4,379
Total assets	43,055	44,358
Current liabilities:
Short-term debt	2,092	1,953
Book overdraft	298	326
Total current liabilities	17,178	15,331
Long-term debt	9,034	10,541
Other long-term liabilities	1,473	2,383
Total liabilities	27,685	28,255
Commitments and contingencies (Note 17)
Stockholders' Equity:
Preferred stock, $1 par; 10,000,000 shares authorized; none issued	0	0
Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,666,598 shares issued at December 31, 2022 and 198,648,742 shares issued at December 31, 2021	33	33
Capital in excess of par value	3,246	3,082
Retained earnings	25,492	23,086
Accumulated other comprehensive (loss) income	(1,304)	42
Treasury stock, at cost, 73,691,955 shares at December 31, 2022 and 69,846,758 shares at December 31, 2021	(12,156)	(10,163)
Total stockholders' equity	15,311	16,080
Total liabilities and equity	43,055	44,358
Parent Company
Current assets:
Cash and cash equivalents	614	906
Investment securities	320	428
Receivable from operating subsidiaries	1,807	1,316
Other current assets	577	545
Total current assets	3,318	3,195
Property and equipment, net	2,393	2,223
Investment in subsidiaries	27,905	26,885
Other long-term assets	282	666
Total assets	33,898	32,969
Current liabilities:
Payable to operating subsidiaries	5,421	2,056
Short-term debt	2,092	1,953
Current portion of notes payable to operating subsidiaries	36	36
Book overdraft	73	68
Other current liabilities	1,425	1,460
Total current liabilities	9,047	5,573
Long-term debt	9,034	10,541
Other long-term liabilities	506	775
Total liabilities	18,587	16,889
Commitments and contingencies (Note 17)
Stockholders' Equity:
Preferred stock, $1 par; 10,000,000 shares authorized; none issued	0	0
Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,666,598 shares issued at December 31, 2022 and 198,648,742 shares issued at December 31, 2021	33	33
Capital in excess of par value	3,246	3,082
Retained earnings	25,492	23,086
Accumulated other comprehensive (loss) income	(1,304)	42
Treasury stock, at cost, 73,691,955 shares at December 31, 2022 and 69,846,758 shares at December 31, 2021	(12,156)	(10,163)
Total stockholders' equity	15,311	16,080
Total liabilities and equity	$ 33,898	$ 32,969

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION (Condensed Balance Sheets Share Data) (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par (in dollars per share)	$ 0.1667	$ 0.1667
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	198,666,598	198,648,742
Treasury stock (in shares)	73,691,955	69,846,758
Parent Company
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par (in dollars per share)	$ 0.1667	$ 0.1667
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	198,666,598	198,648,742
Treasury stock (in shares)	73,691,955	69,846,758

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION (Condensed Statements of Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Total revenues	$ 92,870	$ 83,064	$ 77,155
Expenses:
Operating costs	12,671	10,121	10,052
Depreciation	749	640	528
Interest	401	326	283
Other expense (income), net	68	(532)	103
(Benefit) provision for income taxes	762	485	1,307
Equity in net (losses) earnings	(4)	65	74
Net income	2,802	2,934	3,367
Parent Company
Revenues:
Management fees charged to operating subsidiaries	1,554	1,633	2,216
Investment and other (loss) income, net	(88)	(266)	763
Total revenues	1,466	1,367	2,979
Expenses:
Operating costs	1,700	1,404	2,204
Depreciation	581	488	397
Interest	400	313	283
Total expenses	2,681	2,205	2,884
Other expense (income), net	0	(672)	60
(Loss) income before income taxes and equity in net earnings of subsidiaries	(1,215)	(166)	35
(Benefit) provision for income taxes	(266)	(259)	18
(Loss) income before equity in net earnings of subsidiaries	(949)	93	17
Equity in net earnings of subsidiaries	3,751	2,761	3,269
Equity in net (losses) earnings	0	79	81
Net income	$ 2,802	$ 2,933	$ 3,367

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION (Condensed Statements of Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Net income attributable to Humana	$ 2,806	$ 2,933	$ 3,367
Other comprehensive income (loss):
Change in gross unrealized investment (losses) gains	(1,819)	(356)	393
Effect of income taxes	418	81	(89)
Total change in unrealized investment (losses) gains, net of tax	(1,401)	(275)	304
Reclassification adjustment for net realized losses (gains) included in investment income	72	(103)	(90)
Effect of income taxes	(17)	23	20
Total reclassification adjustment, net of tax	55	(80)	(70)
Other comprehensive (loss) income, net of tax	(1,346)	(355)	234
Comprehensive income attributable to equity method investments	0	6	1
Comprehensive income attributable to Humana	1,460	2,584	3,602
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net income attributable to Humana	2,806	2,933	3,367
Other comprehensive income (loss):
Change in gross unrealized investment (losses) gains	(1,819)	(356)	393
Effect of income taxes	418	81	(89)
Total change in unrealized investment (losses) gains, net of tax	(1,401)	(275)	304
Reclassification adjustment for net realized losses (gains) included in investment income	72	(103)	(90)
Effect of income taxes	(17)	23	20
Total reclassification adjustment, net of tax	55	(80)	(70)
Other comprehensive (loss) income, net of tax	(1,346)	(355)	234
Comprehensive income attributable to equity method investments	0	6	1
Comprehensive income attributable to Humana	$ 1,460	$ 2,584	$ 3,602

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION (Condensed Statements of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 4,587	$ 2,262	$ 5,639
Net Cash Provided by (Used in) Investing Activities [Abstract]
Acquisitions, net of cash and cash equivalents acquired	(337)	(4,187)	(709)
Purchases of investment securities	(6,049)	(7,197)	(9,125)
Proceeds from sale of investment securities	2,434	3,547	2,747
Maturities of investment securities	1,365	2,597	4,986
Purchases of property and equipment, net	(1,120)	(1,316)	(964)
Net cash used in investing activities	(1,006)	(6,556)	(3,065)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from issuance of senior notes, net	1,982	2,984	1,088
Debt issue costs	(6)	(31)	0
Repayment of senior notes	(1,000)	0	(400)
(Repayments) proceeds from issuance of commercial paper, net	(376)	352	295
Proceeds from term loan	0	2,500	1,000
Repayment of term loan	(2,000)	(2,078)	(1,000)
Change in book overdraft	(28)	6	95
Common stock repurchases	(2,096)	(79)	(1,820)
Dividends paid	(392)	(354)	(323)
Net cash (used in) provided by financing activities	(1,914)	3,015	(1,955)
Increase (decrease) in cash and cash equivalents	1,667	(1,279)	619
Cash and cash equivalents at beginning of period	3,394	4,673	4,054
Cash and cash equivalents at end of period	5,061	3,394	4,673
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	4,868	2,853	2,531
Net Cash Provided by (Used in) Investing Activities [Abstract]
Acquisitions, net of cash and cash equivalents acquired	(337)	(4,187)	(709)
Capital contributions to operating subsidiaries	(484)	(2,580)	(538)
Purchases of investment securities	(63)	(200)	(460)
Proceeds from sale of investment securities	468	71	13
Maturities of investment securities	30	122	411
Purchases of property and equipment, net	(931)	(958)	(785)
Net cash used in investing activities	(1,317)	(7,732)	(2,068)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from issuance of senior notes, net	1,976	2,953	1,088
Repayment of senior notes	(1,000)	0	(400)
(Repayments) proceeds from issuance of commercial paper, net	(376)	352	295
Proceeds from term loan	0	2,500	1,000
Repayment of term loan	(2,000)	0	(1,000)
Change in book overdraft	5	(52)	80
Common stock repurchases	(2,096)	(79)	(1,820)
Dividends paid	(392)	(354)	(323)
Other, net	40	29	47
Net cash (used in) provided by financing activities	(3,843)	5,349	(1,033)
Increase (decrease) in cash and cash equivalents	(292)	470	(570)
Cash and cash equivalents at beginning of period	906	436	1,006
Cash and cash equivalents at end of period	$ 614	$ 906	$ 436

SCHEDULE I - PARENT COMPANY FINANCIAL INFORMATION (Notes to Condensed Financial Statements) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Actual dividends paid to parent company	$ 1.3	$ 1.6	$ 1.3
Aggregate statutory capital and surplus in our state regulated insurance subsidiaries	11.3	9.6
Aggregate minimum regulatory requirements of statutory capital and surplus	8.4	$ 7.6
Ordinary dividends that may be paid to parent company	$ 1.8

FAIR VALUE - Financial Assets Measured on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 14,254	$ 13,497
Common stock	7	475
U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,039	602
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	3,230	3,229
Tax-exempt municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	728	841
Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	401	367
Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,399	1,410
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,731	1,348
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	5,726	5,700
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	4,832	3,322
Debt securities	14,254	13,497
Common stock	7	475
Total invested assets	19,093	17,294
Recurring Basis \| U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,039	602
Recurring Basis \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	3,230	3,229
Recurring Basis \| Tax-exempt municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	728	841
Recurring Basis \| Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	401	367
Recurring Basis \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,399	1,410
Recurring Basis \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,731	1,348
Recurring Basis \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	5,726	5,700
Recurring Basis \| Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	4,832	3,322
Debt securities	0	0
Common stock	7	475
Total invested assets	4,839	3,797
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Tax-exempt municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Quoted Prices in Active Markets (Level 1) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Debt securities	14,153	13,429
Common stock	0	0
Total invested assets	14,153	13,429
Recurring Basis \| Other Observable Inputs (Level 2) \| U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,039	602
Recurring Basis \| Other Observable Inputs (Level 2) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	3,230	3,229
Recurring Basis \| Other Observable Inputs (Level 2) \| Tax-exempt municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	728	841
Recurring Basis \| Other Observable Inputs (Level 2) \| Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	401	367
Recurring Basis \| Other Observable Inputs (Level 2) \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,399	1,410
Recurring Basis \| Other Observable Inputs (Level 2) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,731	1,348
Recurring Basis \| Other Observable Inputs (Level 2) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	5,625	5,632
Recurring Basis \| Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Debt securities	101	68
Common stock	0	0
Total invested assets	101	68
Recurring Basis \| Unobservable Inputs (Level 3) \| U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Unobservable Inputs (Level 3) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Unobservable Inputs (Level 3) \| Tax-exempt municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Unobservable Inputs (Level 3) \| Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Unobservable Inputs (Level 3) \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Unobservable Inputs (Level 3) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Recurring Basis \| Unobservable Inputs (Level 3) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 101	$ 68