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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Financial Assets and Financial Liabilities Carried at Fair Value
The following table provides information as of September 30, 2021 and December 31, 2020 about the Company’s financial assets and liabilities carried at fair value. Separate account assets are also recorded at fair value on the Company’s Consolidated Balance Sheets and are reported separately in the Separate Accounts section below as gains and losses related to these assets generally accrue directly to policyholders.
(In millions)Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
As of September 30, 2021As of December 31, 2020As of September 30, 2021As of December 31, 2020As of September 30, 2021As of December 31, 2020As of September 30, 2021As of December 31, 2020
Financial assets at fair value
Debt securities
Federal government and agency$141 $207 $241 $249 $— $— $382 $456 
State and local government— — 169 167 — — 169 167 
Foreign government— — 2,505 2,498 14 13 2,519 2,511 
Corporate
— — 13,600 13,878 713 684 14,313 14,562 
Mortgage and other asset-backed— — 333 309 141 126 474 435 
Total debt securities141 207 16,848 17,101 868 823 17,857 18,131 
Equity securities (1)
23 50 165 165 31 31 219 246 
Short-term investments— — 439 325 — — 439 325 
Derivative assets (2)
— — 126 72 — — 126 72 
Financial liabilities at fair value
Derivative liabilities$— $— $49 $108 $— $— $49 $108 
(1)Excludes certain equity securities that have no readily determinable fair value.
(2)Derivative assets above include an immaterial amount as of September 30, 2021 and $34 million as of December 31, 2020 that are presented in the Short-term investments category disclosed in Note 9. See Note 9 for more information on our Derivative Financial Instruments.
Fair Value and Significant Unobservable Inputs Used in Pricing Debt Securities The following table summarizes the fair value and significant unobservable inputs that were developed directly by the Company and used in pricing these debt securities as of September 30, 2021 and December 31, 2020. The range and weighted average basis point (“bps”) amounts for liquidity reflect the Company’s best estimates of the unobservable adjustments a market participant would make to calculate these fair values.
Fair Value as ofUnobservable Adjustment Range (Weighted Average by Quantity) as of
(Fair value in millions )September 30, 2021December 31, 2020Unobservable input September 30, 2021September 30, 2021December 31, 2020
Debt securities
Corporate and government debt securities$727 $696 Liquidity
60 - 2300 (460)
bps
60 - 1370 (470)
bps
Mortgage and other asset-backed securities141 126 Liquidity
60 - 390 (90)
bps
60 - 380 (80)
bps
Securities not priced by the Company (1)
— 1 
Total Level 3 debt securities$868 $823 
(1)The fair values for these securities use single, unadjusted non-binding broker quotes not developed directly by the Company.
Changes in Level 3 Financial Assets and Financial Liabilities Carried at Fair Value
The following table summarizes the changes in financial assets and financial liabilities classified in Level 3 for the three and nine months ended September 30, 2021 and 2020. Gains and losses reported in the table may include net changes in fair value that are attributable to both observable and unobservable inputs.
For the Three Months Ended
September 30,		For the Nine Months Ended
September 30,
(In millions)2021202020212020
Debt and Equity Securities
Beginning balance$854 $860 $854 $555 
Total gains (losses) included in shareholders’ net income3 (1)(8)4 
Gains (losses) included in other comprehensive income2 17 (7)(42)
Gains (losses) required to adjust future policy benefits for settlement annuities (1)
1 7 (6)4 
Purchases, sales and settlements
Purchases37 3 108 67 
Sales(36)(1)(36)(13)
Settlements(1)(8)(26)(15)
Total purchases, sales and settlements— (6)46 39 
Transfers into/(out of) Level 3
Transfers into Level 358 102 181 629 
Transfers out of Level 3(19)(33)(161)(243)
Total transfers into/(out of) Level 339 69 20 386 
Ending balance$899 $946 $899 $946 
Total gains (losses) included in Shareholders’ net income attributable to instruments held at the reporting date$(3)$— $(3)$(2)
Change in unrealized gains or losses included in Other comprehensive income for assets held at the end of the reporting period$2 $17 $(8)$(37)
(1)Amounts do not accrue to shareholders.
Fair Values of Separate Account Assets
Fair values of Separate account assets at September 30, 2021 and December 31, 2020 were as follows:
(In millions)Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
September 30, 2021December 31, 2020September 30, 2021December 31, 2020September 30, 2021December 31, 2020September 30, 2021December 31, 2020
Guaranteed separate accounts (See Note 15)
$223 $226 $290 $297 $— $— $513 $523 
Non-guaranteed separate accounts (1)
1,982 1,925 5,463 5,600 345 355 7,790 7,880 
Subtotal$2,205 $2,151 $5,753 $5,897 $345 $355 8,303 8,403 
Non-guaranteed separate accounts priced at NAV as a practical expedient (1)
847 683 
Separate account assets per Consolidated Balance Sheets$9,150 $9,086 
(1)Non-guaranteed separate accounts included $4.4 billion as of September 30, 2021 and $4.2 billion as of December 31, 2020 in assets supporting the Company’s pension plans, including $0.3 billion classified in Level 3 as of September 30, 2021 and December 31, 2020.
Additional Information on Separate Account Assets Priced at NAV
Separate account investments in securities partnerships, real estate and hedge funds are generally valued based on the separate account’s ownership share of the equity of the investee (NAV as a practical expedient) including changes in the fair values of its underlying investments. Substantially all of these assets support the Cigna Pension Plans. The following table provides additional information on these investments:
Fair Value as ofUnfunded Commitment as of September 30, 2021Redemption Frequency
(if currently eligible)		Redemption Notice
Period
(In millions)September 30, 2021December 31, 2020
Securities partnerships$534 $463 $253 Not applicableNot applicable
Real estate funds309 215 — Quarterly
30 - 90 days
Hedge funds4 5 — Up to annually, varying by fund
30 - 90 days
Total$847 $683 $253 
Fair Value Disclosures for Financial Instruments Not Carried at Fair Value
The following table includes the Company’s financial instruments not recorded at fair value that are subject to fair value disclosure requirements at September 30, 2021 and December 31, 2020. In addition to universal life products and finance leases, financial instruments that are carried in the Company’s Consolidated Financial Statements at amounts that approximate fair value are excluded from the following table:
Classification in Fair Value HierarchySeptember 30, 2021December 31, 2020
(In millions)Fair ValueCarrying ValueFair ValueCarrying Value
Commercial mortgage loansLevel 3$1,563 $1,525 $1,456 $1,419 
Long-term debt, including current maturities, excluding finance leasesLevel 2$35,794 $31,579 $37,676 $31,835