BENEFITS PAYABLE (Tables)

9 Months Ended

Sep. 30, 2019

Insurance [Abstract]

Schedule of Activity in Benefits Payable

Activity in benefits payable for our Group and Specialty segment, was as follows for the nine months ended September 30, 2019 and 2018:

	For the nine months ended September 30,
	2019			2018
	(in millions)
Balances, beginning of period	$	517		$	568
Incurred related to:
Current year	4,142			4,018
Prior years	35			(41		)
Total incurred	4,177			3,977
Paid related to:
Current year	(3,547		)	(3,462		)
Prior years	(524		)	(509		)
Total paid	(4,071		)	(3,971		)
Balances, end of period	$	623		$	574

Activity in benefits payable for our Retail segment was as follows for the nine months ended September 30, 2019 and 2018:

	For the nine months ended September 30,
	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	36,762			31,209
Prior years	(366		)	(367		)
Total incurred	36,396			30,842
Paid related to:
Current year	(31,476		)	(27,062		)
Prior years	(3,634		)	(3,334		)
Total paid	(35,110		)	(30,396		)
Reinsurance recoverable	68			98
Balances, end of period	$	5,597		$	4,437

On a consolidated basis, activity in benefits payable, was as follows for the nine months ended September 30, 2019 and 2018:

	For the nine months ended September 30,
	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	40,499			34,915
Prior years	(331		)	(467		)
Total incurred	40,168			34,448
Paid related to:
Current year	(34,625		)	(30,204		)
Prior years	(4,158		)	(3,920		)
Total paid	(38,783		)	(34,124		)
Reinsurance recoverable	68			98
Balances, end of period	$	6,220		$	5,020

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 nine months ended September 30, 2019 and 2018. The Other Businesses category was related to our closed-block of commercial long-term care insurance policies, which were sold in 2018. We also exited our Individual Commercial business beginning January 1, 2018.

	For the nine months ended September 30,
	2019		2018
	(in millions)
Future policy benefits:
Individual Commercial	$	—	$	(14	)
Other Businesses	—		15
Total future policy benefits	$	—	$	1

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
	September 30,
	2019
Net outstanding liabilities	(in millions)
Retail	$	5,529
Group and Specialty	623
Benefits payable, net of reinsurance	6,152
Reinsurance recoverable on unpaid claims
Retail	68
Total benefits payable, gross	$	6,220