Affordable Care Act
|6 Months Ended|
Jun. 30, 2022
|Affordable Care Act [Abstract]|
|Affordable Care Act||Affordable Care Act The Affordable Care Act established risk spreading premium stabilization programs as well as a minimum annual medical loss ratio (MLR) and cost sharing reductions.
The Company's net receivables (payables) for each of the programs are as follows ($ in millions):
In June 2022, the Centers for Medicare and Medicaid Services (CMS) announced the final risk adjustment transfers for the 2021 benefit year. As a result of the announcement, the Company increased its risk adjustment net receivables by $403 million from December 31, 2021. After consideration of minimum MLR and other related impacts, the net pre-tax benefit recognized was approximately $368 million for the six months ended June 30, 2022