Liability for Unpaid Claims

12 Months Ended

Dec. 31, 2025

Insurance [Abstract]

Liability for Unpaid Claims

Note 8—Liability for Unpaid Claims

Activity in the liability for unpaid health claims is summarized as follows:

	Year Ended December 31,
	2025		2024		2023
Balance at January 1,	$	210,994	$	194,809	$	184,286
Less reinsurance recoverables	(1,521)		(2,157)		(2,084)
Net balance at January 1,	209,473		192,652		182,202
Incurred related to:
Current year	851,946		767,076		697,521
Prior years	(1,831)		(10,460)		(4,853)
Total incurred	850,115		756,616		692,668
Paid related to:
Current year	659,556		587,473		535,971
Prior years	176,028		152,322		146,247
Total paid	835,584		739,795		682,218
Net balance at December 31,	224,004		209,473		192,652
Plus reinsurance recoverables	1,233		1,521		2,157
Balance at December 31,	$	225,237	$	210,994	$	194,809

At the end of each period, the liability for unpaid health claims includes an estimate of claims incurred but not yet reported to the Company. Such estimates are updated regularly based upon the Company’s most recent claims data with recognition of emerging experience trends. Due to the nature of the Company’s health business, the payment lags are relatively short and most claims are fully paid within a year from the time incurred. Fluctuations in claims experience can lead to either over or under estimation of the liability for any given year. The difference between the estimate made at the end of the prior period and the actual experience during the period is reflected above under the caption "Incurred related to: Prior years."

Below is the reconciliation of the liability of "Policy claims and other benefits payable" on the Consolidated Balance Sheets.

	December 31,
	2025		2024
Policy claims and other benefits payable:
Life insurance	$	315,595	$	321,838
Health insurance	225,237		210,994
Total	$	540,832	$	532,832