SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Results

Our segment results were as follows for the three and nine months ended September 30, 2025 and 2024:

	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
Three months ended September 30, 2025	(in millions)
External revenues
Premiums revenue	$	30,711	$	—	$	—	$	30,711
Services revenue	267		1,333		—		1,600
Total external revenues	30,978		1,333		—		32,311
Intersegment revenues	1		4,546		(4,547)		—
Investment income	210		—		128		338
Total revenues	31,189		5,879		(4,419)		32,649
Operating expenses:
Benefits	27,982		—		9		27,991
Operating costs	2,808		5,521		(4,244)		4,085
Depreciation and amortization	148		53		(28)		173
Total operating expenses	30,938		5,574		(4,263)		32,249
Income (loss) from operations	$	251	$	305	$	(156)	$	400

	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
Three months ended September 30, 2024	(in millions)
External revenues
Premiums revenue	$	27,951	$	—	$	—	$	27,951
Services revenue	226		877		—		1,103
Total external revenues	28,177		877		—		29,054
Intersegment revenues	1		4,164		(4,165)		—
Investment income	192		—		151		343
Total revenues	28,370		5,041		(4,014)		29,397
Operating expenses:
Benefits	25,319		—		(199)		25,120
Operating costs	2,595		4,602		(3,858)		3,339
Depreciation and amortization	182		57		(29)		210
Total operating expenses	28,096		4,659		(4,086)		28,669
Income from operations	$	274	$	382	$	72	$	728

	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
Nine months ended September 30, 2025	(in millions)
External revenues
Premiums revenue	$	91,941	$	—	$	—	$	91,941
Services revenue	725		3,609		—		4,334
Total external revenues	92,666		3,609		—		96,275
Intersegment revenues	3		12,902		(12,905)		—
Investment income	551		—		323		874
Total revenues	93,220		16,511		(12,582)		97,149
Operating expenses:
Benefits	82,278		—		(187)		82,091
Operating costs	7,900		15,298		(12,186)		11,012
Depreciation and amortization	451		172		(89)		534
Total operating expenses	90,629		15,470		(12,462)		93,637
Income (loss) from operations	$	2,591	$	1,041	$	(120)	$	3,512

	Insurance		CenterWell		Eliminations/ Corporate		Consolidated
Nine months ended September 30, 2024	(in millions)
External Revenues
Premiums revenue	$	84,354	$	—	$	—	$	84,354
Services revenue	715		2,550		—		3,265
Total external revenues	85,069		2,550		—		87,619
Intersegment revenues	3		12,256		(12,259)		—
Investment income	522		—		407		929
Total revenues	85,594		14,806		(11,852)		88,548
Operating expenses:
Benefits	75,752		—		(469)		75,283
Operating costs	7,354		13,638		(11,463)		9,529
Depreciation and amortization	553		166		(88)		631
Total operating expenses	83,659		13,804		(12,020)		85,443
Income from operations	$	1,935	$	1,002	$	168	$	3,105