BENEFITS PAYABLE (Tables)

3 Months Ended

Mar. 31, 2019

Insurance [Abstract]

Schedule of Activity in Benefits Payable

Activity in benefits payable for our Group and Specialty segment, was as follows for the three months ended March 31, 2019 and 2018:

	For the three months ended March 31,
	2019			2018
	(in millions)
Balances, beginning of period	$	517		$	568
Incurred related to:
Current year	1,271			1,307
Prior years	16			(34		)
Total incurred	1,287			1,273
Paid related to:
Current year	(803		)	(802		)
Prior years	(462		)	(463		)
Total paid	(1,265		)	(1,265		)
Balances, end of period	$	539		$	576

Activity in benefits payable for our Retail segment was as follows for the three months ended March 31, 2019 and 2018:

	For the three months ended March 31,
	2019			2018
	(in millions)
Balances, beginning of period	$	4,338		$	3,963
Less: Reinsurance recoverables	(95		)	(70		)
Balances, beginning of period, net	4,243			3,893
Incurred related to:
Current year	12,606			10,739
Prior years	(283		)	(187		)
Total incurred	12,323			10,552
Paid related to:
Current year	(8,032		)	(7,119		)
Prior years	(3,133		)	(3,082		)
Total paid	(11,165		)	(10,201		)
Reinsurance recoverable	84			77
Balances, end of period	$	5,485		$	4,321

On a consolidated basis, activity in benefits payable, was as follows for the three months ended March 31, 2019 and 2018:

	For the three months ended March 31,
	2019			2018
	(in millions)
Balances, beginning of period	$	4,862		$	4,668
Less: Reinsurance recoverables	(95		)	(70		)
Balances, beginning of period, net	4,767			4,598
Incurred related to:
Current year	13,760			11,947
Prior years	(267		)	(267		)
Total incurred	13,493			11,680
Paid related to:
Current year	(8,725		)	(7,775		)
Prior years	(3,595		)	(3,619		)
Total paid	(12,320		)	(11,394		)
Reinsurance recoverable	84			77
Balances, end of period	$	6,024		$	4,961

Schedule of Benefit Expenses Excluded From Activity in Benefits Payable

Benefits expense excluded from the previous table related to our long duration policies was as follows for the three months ended March 31, 2019 and 2018.

	For the three months ended March 31,
	2019		2018
	(in millions)
Future policy benefits:
Individual Commercial	$	—	$	(16	)
Other Businesses	—		6
Total future policy benefits	$	—	$	(10	)

Schedule of Benefits Payable

The reconciliation of the net incurred and paid claims development tables to benefits payable in the consolidated

statement of financial position is as follows:

Reconciliation of the Disclosure of Incurred and Paid Claims Development to Benefits Payable, net of reinsurance
	March 31,
	2019
Net outstanding liabilities	(in millions)
Retail	$	5,401
Group and Specialty	539
Benefits payable, net of reinsurance	5,940
Reinsurance recoverable on unpaid claims
Retail	84
Total benefits payable, gross	$	6,024