BENEFITS PAYABLE (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Activity in Benefits Payable

On a consolidated basis, activity in benefits payable, was as follows for the nine months ended September 30, 2020 and 2019:


	For the nine months ended September 30,
		2020		2019
	(in millions)
Balances, beginning of period		$	6,004	$	4,862

Less: Reinsurance recoverables		(68)		(95)
Balances, beginning of period, net		5,936		4,767

Incurred related to:
Current year		45,693		40,499
Prior years		(278)		(331)
Total incurred		45,415		40,168
Paid related to:
Current year		(37,810)		(34,625)
Prior years		(5,334)		(4,158)
Total paid		(43,144)		(38,783)

Reinsurance recoverable		1		68
Balances, end of period		$	8,208	$	6,220

Activity in benefits payable for our Retail segment was as follows for the nine months ended September 30, 2020 and 2019:


	For the nine months ended September 30,
		2020		2019
	(in millions)
Balances, beginning of period		$	5,363	$	4,338

Less: Reinsurance recoverables		(68)		(95)
Balances, beginning of period, net		5,295		4,243

Incurred related to:
Current year		42,186		36,762
Prior years		(235)		(366)
Total incurred		41,951		36,396
Paid related to:
Current year		(34,946)		(31,476)
Prior years		(4,759)		(3,634)
Total paid		(39,705)		(35,110)

Reinsurance recoverable		1		68
Balances, end of period		$	7,542	$	5,597

Activity in benefits payable for our Group and Specialty segment, was as follows for the nine months ended September 30, 2020 and 2019:


	For the nine months ended September 30,
		2020		2019
	(in millions)
Balances, beginning of period		$	641	$	517




Incurred related to:
Current year		3,929		4,142
Prior years		(43)		35
Total incurred		3,886		4,177
Paid related to:
Current year		(3,286)		(3,547)
Prior years		(575)		(524)
Total paid		(3,861)		(4,071)


Balances, end of period		$	666	$	623

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,
	2020
Net outstanding liabilities	(in millions)
Retail	$	7,541
Group and Specialty	666


Benefits payable, net of reinsurance	8,207

Reinsurance recoverable on unpaid claims
Retail	1









Total benefits payable, gross	$	8,208