Molina Healthcare (MOH) 10-Q24 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares shares in Millions	9 Months Ended
Cover Page - shares shares in Millions	Sep. 30, 2024	Oct. 18, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-31719
Entity Registrant Name	MOLINA HEALTHCARE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4204626
Entity Address, Address Line One	200 Oceangate
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Long Beach,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90802
City Area Code	562
Local Phone Number	435-3666
Title of 12(b) Security	Common Stock, $0.001 Par Value
Trading Symbol	MOH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57.2
Entity Central Index Key	0001179929
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Premium revenue	$ 9,694	$ 8,240	$ 28,644	$ 24,167
Premium tax revenue	508	176	1,103	517
Investment income	118	112	341	280
Other revenue	20	20	63	60
Total revenue	10,340	8,548	30,151	25,024
Operating expenses:
Medical care costs	8,643	7,306	25,425	21,215
General and administrative expenses	676	608	2,078	1,817
Premium tax expenses	508	176	1,103	517
Depreciation and amortization	47	42	138	128
Other	(1)	57	80	90
Total operating expenses	9,873	8,189	28,824	23,767
Operating income	467	359	1,327	1,257
Interest expense	29	27	84	82
Income before income tax expense	438	332	1,243	1,175
Income tax expense	112	87	315	300
Net income	$ 326	$ 245	$ 928	$ 875
Net income per share:
Net income per share - Basic (in dollars per share)	$ 5.67	$ 4.24	$ 16.05	$ 15.18
Net income per share - Diluted (in dollars per share)	$ 5.65	$ 4.21	$ 15.97	$ 15.08

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 326	$ 245	$ 928	$ 875
Other comprehensive gain (loss):
Unrealized investment gain (loss)	100	(24)	96	(7)
Less: effect of income taxes	24	(5)	23	(2)
Other comprehensive gain (loss), net of tax	76	(19)	73	(5)
Comprehensive income	$ 402	$ 226	$ 1,001	$ 870

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,732	$ 4,848
Investments	4,482	4,259
Receivables	3,259	3,104
Prepaid expenses and other current assets	408	331
Total current assets	12,881	12,542
Property, equipment, and capitalized software, net	306	270
Goodwill, and intangible assets, net	1,923	1,449
Restricted investments	289	261
Deferred income taxes, net	227	227
Other assets	132	143
Total assets	15,758	14,892
Current liabilities:
Medical claims and benefits payable	4,732	4,204
Amounts due government agencies	2,026	2,294
Accounts payable, accrued liabilities and other	1,215	1,252
Deferred revenue	364	418
Total current liabilities	8,337	8,168
Long-term debt	2,332	2,180
Finance lease liabilities	197	205
Other long-term liabilities	122	124
Total liabilities	10,988	10,677
Stockholders’ equity:
Common stock, $0.001 par value, 150 million shares authorized; outstanding: 57 million shares at September 30, 2024 and $58 million at December 31, 2023	0	0
Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	453	410
Accumulated other comprehensive loss	(9)	(82)
Retained earnings	4,326	3,887
Total stockholders’ equity	4,770	4,215
Total liabilities and stockholders’ equity	$ 15,758	$ 14,892

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares outstanding (in shares)	57,000,000	58,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands, shares in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2022		58
Beginning balance at Dec. 31, 2022	$ 2,964,000	$ 0	$ 328,000	$ (160,000)	$ 2,796,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	321,000				321,000
Other comprehensive income (loss), net	35,000			35,000
Share-based compensation	(32,000)		(32,000)
Ending balance (in shares) at Mar. 31, 2023		58
Ending balance at Mar. 31, 2023	3,288,000	$ 0	296,000	(125,000)	3,117,000
Beginning balance (in shares) at Dec. 31, 2022		58
Beginning balance at Dec. 31, 2022	2,964,000	$ 0	328,000	(160,000)	2,796,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	875,000
Other comprehensive income (loss), net	(5,000)
Ending balance (in shares) at Sep. 30, 2023		58
Ending balance at Sep. 30, 2023	3,879,000	$ 0	373,000	(165,000)	3,671,000
Beginning balance (in shares) at Mar. 31, 2023		58
Beginning balance at Mar. 31, 2023	3,288,000	$ 0	296,000	(125,000)	3,117,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	309,000				309,000
Other comprehensive income (loss), net	(21,000)			(21,000)
Share-based compensation	45,000		45,000
Ending balance (in shares) at Jun. 30, 2023		58
Ending balance at Jun. 30, 2023	3,621,000	$ 0	341,000	(146,000)	3,426,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	245,000				245,000
Other comprehensive income (loss), net	(19,000)			(19,000)
Share-based compensation	32,000		32,000
Ending balance (in shares) at Sep. 30, 2023		58
Ending balance at Sep. 30, 2023	$ 3,879,000	$ 0	373,000	(165,000)	3,671,000
Beginning balance (in shares) at Dec. 31, 2023	58	58
Beginning balance at Dec. 31, 2023	$ 4,215,000	$ 0	410,000	(82,000)	3,887,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	301,000				301,000
Other comprehensive income (loss), net	(3,000)			(3,000)
Share-based compensation (in shares)		1
Share-based compensation	(20,000)		(20,000)
Ending balance (in shares) at Mar. 31, 2024		59
Ending balance at Mar. 31, 2024	$ 4,493,000	$ 0	390,000	(85,000)	4,188,000
Beginning balance (in shares) at Dec. 31, 2023	58	58
Beginning balance at Dec. 31, 2023	$ 4,215,000	$ 0	410,000	(82,000)	3,887,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	928,000
Other comprehensive income (loss), net	$ 73,000
Ending balance (in shares) at Sep. 30, 2024	57	57
Ending balance at Sep. 30, 2024	$ 4,770,000	$ 0	453,000	(9,000)	4,326,000
Beginning balance (in shares) at Mar. 31, 2024		59
Beginning balance at Mar. 31, 2024	4,493,000	$ 0	390,000	(85,000)	4,188,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	301,000				301,000
Share-based compensation	49,000		49,000
Ending balance (in shares) at Jun. 30, 2024		59
Ending balance at Jun. 30, 2024	4,843,000	$ 0	439,000	(85,000)	4,489,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	326,000				326,000
Common stock purchases (in shares)		(2)
Common stock purchases	(500,000)		(11,000)		(489,000)
Stock purchase excise tax	(3,000)		(3,000)
Other comprehensive income (loss), net	76,000			76,000
Share-based compensation	$ 28,000		28,000
Ending balance (in shares) at Sep. 30, 2024	57	57
Ending balance at Sep. 30, 2024	$ 4,770,000	$ 0	$ 453,000	$ (9,000)	$ 4,326,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net income	$ 928	$ 875
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	138	128
Deferred income taxes	14	(33)
Share-based compensation	98	88
Other, net	8	3
Changes in operating assets and liabilities:
Receivables	(31)	(132)
Prepaid expenses and other current assets	(6)	(69)
Medical claims and benefits payable	65	611
Amounts due government agencies	(289)	377
Accounts payable, accrued liabilities and other	(33)	(137)
Deferred revenue	(53)	332
Income taxes	29	309
Net cash provided by operating activities	868	2,352
Investing activities:
Purchases of investments	(989)	(1,295)
Proceeds from sales and maturities of investments	871	670
Net cash paid in business combinations	(344)	(3)
Purchases of property, equipment and capitalized software	(89)	(89)
Other, net	68	(2)
Net cash used in investing activities	(483)	(719)
Financing activities:
Common stock purchases	(500)	0
Proceeds from borrowings under credit facility	300	0
Repayment of credit facility	(150)	0
Common stock withheld to settle employee tax obligations	(57)	(60)
Other, net	(7)	(1)
Net cash used in financing activities	(414)	(61)
Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents	(29)	1,572
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	4,908	4,048
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	$ 4,879	$ 5,620

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization and Operations Molina Healthcare, Inc. provides managed healthcare services under the Medicaid and Medicare programs, and through the state insurance marketplaces (the “Marketplace”). We currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other. Our reportable segments are consistent with how we currently manage the business and view the markets we serve. As of September 30, 2024, we served approximately 5.6 million members eligible for government-sponsored healthcare programs, located across 21 states. Our state Medicaid contracts typically have terms of three In addition to contract renewal, our state Medicaid contracts may be periodically amended to include or exclude certain health benefits (such as pharmacy services, behavioral health services, or long-term care services); populations such as the aged, blind or disabled (“ABD”); and regions or service areas. In Medicare, we enter into Medicare Advantage-Part D contracts with the Centers for Medicare and Medicaid Services (“CMS”) annually, and for dual-eligible programs, we enter into contracts with CMS, in partnership with each state’s department of health and human services. Such contracts typically have terms of one In Marketplace, we enter into contracts with CMS, which end on December 31 of each year, and must be renewed annually. Recent Developments Michigan Procurement—Medicare. In October 2024, we were awarded a contract to provide benefits to the state’s Highly Integrated Dual Eligible (“HIDE”) Special Needs population in six service regions. This award facilitates the transition of our existing Medicaid-Medicare Plan (“MMP”) members to a HIDE product and ensures a new dual-eligibles growth opportunity by expanding our footprint from two regions to six, including Detroit. The new contract, which is expected to commence on January 1, 2026 in select regions, will be implemented statewide in 2027 and is expected to continue for seven years. Massachusetts Procurement—Medicare. In September 2024, we were selected to proceed to contract negotiations to operate both One Care and Senior Care Options plans for 2026. This selection is expected to allow us to operate the One Care 21-64 program, and to retain our position in the Senior Care Options program. The programs provide physical, behavioral, long-term services and supports, and other community services to dual-eligibles. The new contract is expected to commence on January 1, 2026. Connecticut Acquisition—Marketplace and Medicare. On July 23, 2024, we announced a definitive agreement to acquire ConnectiCare Holding Company, Inc. (“ConnectiCare”), a wholly owned subsidiary of EmblemHealth, Inc. ConnectiCare is a leading health plan in the state of Connecticut serving members across Marketplace, Medicare, and certain commercial products. The purchase price for the transaction is approximately $350 million, which we intend to fund with cash on hand. The transaction is subject to applicable federal and state regulatory approvals and the satisfaction of other customary closing conditions. We currently expect the transaction to close in the first quarter of 2025. Florida Procurement—Medicaid. In July 2024, we were notified that the Florida Agency for Healthcare Administration awarded a Medicaid managed care contract to Molina Healthcare of Florida. The contract term is expected to commence on February 1, 2025, and to run through December 31, 2030. We expect to serve approximately 90,000 Medicaid beneficiaries in Miami-Dade and Monroe Counties. New Mexico Procurement—Medicaid. Our new contract with the New Mexico Health Care Authority commenced on July 1, 2024 and will run through December 31, 2026. The new contract added approximately 33,000 members. Wisconsin Procurement—Medicaid. In May 2024, we were notified that the Wisconsin Department of Health Services intends to make an award for the purchase of services under the Family Care and Family Care Partnership program in its Geographic Service Region 5 to Molina Healthcare of Wisconsin. The go-live date is expected to be January 1, 2025, and the contract is expected to have a duration of two years, with an option for three two-year extensions. Additionally, we were re-awarded our sole contract position in the self-directed long-term services and supports personal care program. Michigan Procurement—Medicaid. In April 2024, we announced that the Michigan Department of Health and Human Services intends to award a Comprehensive Health Care Program contract to Molina Healthcare of Michigan. We were awarded the contract in six service regions. The new Medicaid contract commenced on October 1, 2024. The new contract is expected to have a duration of five years, with an option for three one-year extensions. Mississippi Procurement—Medicaid. In the second quarter of 2024, the Mississippi Division of Medicaid extended the existing contracts for the state fiscal year that began on July 1, 2024. We now expect the new four-year contract, which will cover both TANF & ABD and CHIP, to commence on July 1, 2025. Texas Procurement—Medicaid. In the first quarter of 2024, we were notified of the Texas Health and Human Services Commission’s intent to award us a contract for Temporary Assistance for Needy Families (“TANF”) and Children’s Health Insurance Program (“CHIP”) (known in Texas as the STAR & CHIP programs, and both existing contracts for Molina), expanding our footprint and expecting to grow our market share. The expected start of operations and other final contract terms are still pending. The new STAR+PLUS contract began on September 1, 2024 and grew our market share. Virginia Procurement—Medicaid. In the first quarter of 2024, the Virginia Department of Medical Assistance Services (“DMAS”) issued a notice of intent to award which did not include Molina Healthcare of Virginia as an awardee for its Cardinal Care Managed Care (“CCMC”) procurement. We exercised our right to protest that decision. On April 19, 2024, DMAS upheld its notice of intent to award in response to our protest. On April 26, 2024, Molina filed a legal action in Virginia Circuit Court over DMAS’s decision not to award Molina a CCMC contract. In addition, DMAS separately notified us that they were exercising the contractual extension option for the period from July 1, 2024 through June 30, 2025. The noticed CCMC awards are subject to a statutory stay pending the resolution of Molina’s legal action. California Acquisition—Medicare. Effective January 1, 2024, we closed on our acquisition of 100% of the issued and outstanding capital stock of Brand New Day and Central Health Plan of California (“Bright Health Medicare”), which added approximately 109,000 members. California Procurement—Medicaid. Our new contract with the California Department of Health Care Services commenced on January 1, 2024, which enables us to continue servicing Medi-Cal members in most of our existing counties and expand our footprint in Los Angeles County. Nebraska Procurement—Medicaid. Our new contract with the Nebraska Department of Health and Human Services commenced on January 1, 2024, which added approximately 114,000 members. Consolidation and Interim Financial Information The consolidated financial statements include the accounts of Molina Healthcare, Inc. and its subsidiaries. In the opinion of management, these financial statements reflect all normal recurring adjustments, which are considered necessary for a fair presentation of the results as of the dates and for the interim periods presented. All significant intercompany balances and transactions have been eliminated. The consolidated results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results for the entire year ending December 31, 2024. The unaudited consolidated interim financial statements have been prepared under the assumption that users of the interim financial data have either read or have access to our audited consolidated financial statements for the fiscal year ended December 31, 2023. Accordingly, certain disclosures that would substantially duplicate the disclosures contained in our December 31, 2023, audited consolidated financial statements have been omitted. Use of Estimates

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents consist of cash and short-term, highly liquid investments that are both readily convertible into known amounts of cash and have a maturity of three months or less on the date of purchase. The following table provides a reconciliation of cash and cash equivalents, and restricted cash and cash equivalents reported within the accompanying consolidated balance sheets that sum to the total of the same such amounts presented in the accompanying consolidated statements of cash flows. The restricted cash and cash equivalents presented below are included in “Restricted investments” in the accompanying consolidated balance sheets. September 30, 2024 2023 (In millions) Cash and cash equivalents $ 4,732 $ 5,565 Restricted cash and cash equivalents 147 55 Total cash, cash equivalents, and restricted cash and cash equivalents presented in the consolidated statements of cash flows $ 4,879 $ 5,620 Receivables Receivables consist primarily of premium amounts due from government agencies, which are subject to potential retroactive adjustments. We apply the current expected credit loss model to measure expected credit losses on our receivables based on available information about past events and reasonable and supportable forecasts. Because substantially all of our receivable amounts are readily determinable and substantially all of our creditors are governmental authorities, our allowance for credit losses is insignificant. Any amounts determined to be uncollectible are charged to expense when such determination is made. September 30, December 31, (In millions) Government receivables $ 2,210 $ 2,354 Pharmacy rebate receivables 335 330 Other 714 420 Total receivables $ 3,259 $ 3,104 Premium Revenue Recognition and Amounts Due Government Agencies Premium revenue is generated from our contracts with state and federal agencies, in connection with our participation in the Medicaid, Medicare, and Marketplace programs. Premium revenue is generally received based on per member per month (“PMPM”) rates established in advance of the periods covered. These premium revenues are recognized in the month that members are entitled to receive healthcare services, and premiums collected in advance are deferred. Many of our contracts contain provisions that may adjust or limit revenue or profit, as described below. Consequently, we recognize premium revenue as it is earned under such provisions. Liabilities accrued for premiums to be returned under such provisions are reported in the aggregate as “Amounts due government agencies” in the accompanying consolidated balance sheets. State Medicaid programs and the federal Medicare program periodically adjust premium rates, including certain components of premium revenue that are subject to accounting estimates and are described below, and in our 2023 Annual Report on Form 10-K, Note 2, “Significant Accounting Policies,” under “Premium Revenue Recognition and Amounts Due Government Agencies,” and “Quality Incentives.” Minimum MLR, Medical Cost Corridors and Profit Sharing. A portion of our Medicaid premium revenue may be returned if certain minimum amounts are not spent on defined medical care costs as a percentage of premium revenue, or minimum medical loss ratio (“Minimum MLR”). Under certain medical cost corridor provisions, the health plans may receive additional premiums if amounts spent on medical care costs exceed a defined maximum threshold. This includes remaining risk corridors that were enacted by various states in 2020 in response to the reduced demand for medical services stemming from COVID-19. Our contracts with certain states contain profit sharing provisions under which we refund amounts to the states if our health plans generate profit above a certain specified percentage. In some cases, we are limited in the amount of administrative costs that we may deduct in calculating the refund, if any. We recorded aggregate liabilities under the terms of such contract provisions of $1,176 million and $1,344 million at September 30, 2024 and December 31, 2023, respectively, to “Amounts due government agencies” in the accompanying consolidated balance sheets. The Affordable Care Act (“ACA”) established a Minimum MLR of 85% for Medicare. Federal regulations define what constitutes medical costs and premium revenue. If the Minimum MLR is not met, we may be required to pay rebates to the federal government. Our dual-eligible plans may also be subject to state-specific Minimum MLRs, medical cost corridors, and profit-sharing provisions. We recognize estimated rebates as an adjustment to premium revenue in our consolidated statements of income. We recorded a liability under the terms of such contract provisions of $40 million and $64 million at September 30, 2024 and December 31, 2023, respectively, to “Amounts due government agencies” in the accompanying consolidated balance sheets. The ACA established a Minimum MLR of 80% for the Marketplace. If the Minimum MLR is not met, we may be required to pay rebates to our Marketplace policyholders. The Marketplace risk adjustment program discussed below is taken into consideration when computing the Minimum MLR. We recognize estimated rebates under the Minimum MLR as an adjustment to premium revenue in our consolidated statements of income. The amounts were insignificant at September 30, 2024 and December 31, 2023. Risk Adjustment. Our Medicare premiums are subject to retroactive increase or decrease based on the health status of our Medicare members (as measured by member risk score). We estimate our members’ risk scores and the related amount of Medicare revenue that will ultimately be realized for the periods presented based on our knowledge of our members’ health status, risk scores and CMS practices. We also estimate amounts owed to CMS for Part D settlements. We recorded a liability under the terms of such contract provisions of $82 million and $66 million at September 30, 2024 and December 31, 2023, respectively, to “Amounts due government agencies” in the accompanying consolidated balance sheets. Under this program for our Marketplace business, our health plans’ composite risk scores are compared with the overall average risk score for the relevant state and market pool. Generally, our health plans will make a risk adjustment payment into the pool if their composite risk scores are below the average risk score (risk adjustment payable) and will receive a risk adjustment payment from the pool if their composite risk scores are above the average risk score (risk adjustment receivable). We estimate our ultimate premium based on insurance policy year-to-date experience and recognize estimated premiums relating to the risk adjustment program as an adjustment to premium revenue in our consolidated statements of income. As of September 30, 2024, Marketplace risk adjustment payables amounted to $207 million and related receivables amounted to $282 million, for a net receivable of $75 million. As of December 31, 2023, Marketplace risk adjustment payables amounted to $201 million and related receivables amounted to $241 million, for a net receivable of $40 million. Marketplace risk adjustment receivables at December 31, 2023 are net of a $41 million credit loss allowance resulting from a credit loss recognized in the third quarter of 2023 on 2022 Marketplace risk adjustment receivables due to the insolvency of an issuer in the Texas risk pool. Premium Deficiency Reserve on Loss Contracts We assess the profitability of our contracts to determine if it is probable that a loss will be incurred in the future by reviewing current results and forecasts. For purposes of this assessment, contracts are grouped in a manner consistent with our method of acquiring, servicing and measuring the profitability of such contracts. A premium deficiency reserve (“PDR”) is recognized if anticipated future medical care and administrative costs exceed anticipated future premium revenue, investment income and reinsurance recoveries. Once established, a PDR is reduced over the contract period as an offset to actual losses. Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments, receivables, and restricted investments. Our investments and a portion of our cash equivalents are managed by professional portfolio managers operating under documented investment guidelines. Our portfolio managers must obtain our prior approval before selling investments where the loss position of those investments exceeds certain levels. Our investments consist primarily of investment-grade debt securities with final maturities of less than 15 years, or less than 15 years average life for structured securities. Restricted investments are invested principally in cash, cash equivalents, U.S. Treasury securities, and corporate debt securities. Concentration of credit risk with respect to accounts receivable is limited because our payors consist principally of the federal government, and governments of each state in which our health plan subsidiaries operate. Income Taxes The provision for income taxes is determined using an estimated annual effective tax rate, which generally differs from the U.S. federal statutory rate primarily because of state taxes and nondeductible expenses such as certain compensation and other general and administrative expenses. The effective tax rate may be subject to fluctuations during the year as new information is obtained. Such information may affect the assumptions used to estimate the annual effective tax rate, including projected pretax earnings, the mix of pretax earnings in the various tax jurisdictions in which we operate, valuation allowances against deferred tax assets, the recognition or the reversal of the recognition of tax benefits related to uncertain tax positions, and changes in or the interpretation of tax laws in jurisdictions where we conduct business. We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities, along with net operating loss and tax credit carryovers. Recent Accounting Pronouncements Recent accounting pronouncements issued by the Financial Accounting Standards Board (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the Securities and Exchange Commission (“SEC”) did not have, nor does management expect such pronouncements to have, a significant impact on our present or future consolidated financial statements.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table sets forth the calculation of basic and diluted net income per share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions, except net income per share) Numerator: Net income $ 326 $ 245 $ 928 $ 875 Denominator: Shares outstanding at the beginning of the period 58.1 57.8 57.8 57.4 Weighted-average number of shares issued: Stock-based compensation — — 0.2 0.3 Stock purchases (0.5) — (0.2) — Denominator for basic net income per share 57.6 57.8 57.8 57.7 Effect of dilutive securities: (1) Stock-based compensation 0.1 0.3 0.3 0.4 Denominator for diluted net income per share 57.7 58.1 58.1 58.1 Net income per share - Basic (2) $ 5.67 $ 4.24 $ 16.05 $ 15.18 Net income per share - Diluted (2) $ 5.65 $ 4.21 $ 15.97 $ 15.08 ______________________________ (1) The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income per share because to do so would be anti-dilutive. For the three and nine months ended September 30, 2024, 196,000 shares and 102,000 shares, respectively, were excluded from diluted shares outstanding. (2) Source data for calculations in thousands.

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations Bright Health Medicare. On January 1, 2024, we closed on our acquisition of Bright Health Medicare for $441 million in cash, consistent with our strategy to grow in our existing markets. For this transaction, we applied the acquisition method of accounting, where the total purchase price was preliminarily allocated to the tangible and intangible assets acquired and liabilities assumed, based on their fair values as of the acquisition date. We expect to complete the final determination of the purchase price allocation as soon as practicable, but no later than one year following the acquisition’s closing date in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations . Measurement period adjustments will be recorded in the period in which they are determined, as if they had been completed at the acquisition date. The pro forma effects of this acquisition for prior periods were not material to our consolidated results of operations. Acquisition costs amounted to $3 million in the aggregate for the nine months ended September 30, 2024, and were recorded as “General and administrative expenses” in the accompanying consolidated statements of income. The acquisition-date fair value of the consideration transferred consisted of the following, in millions: Fair value of consideration transferred: Cash $ 341 Contingent consideration 86 Total $ 427 The contingent consideration arrangement allows the seller to earn up to $100 million for the satisfaction of certain conditions within the stock purchase agreement by the fourth quarter of 2024. The fair value of the contingent consideration arrangement at the acquisition date was $86 million. This fair value measurement is based on inputs not observable in the market and thus represents a Level 3 measurement. We estimated the fair value using a probability-weighted scenario approach focused on existing and expected membership. On the acquisition date, we placed the $100 million into a third-party escrow and recorded a receivable of $14 million in relation to the fair value measurement. As of September 30, 2024, the fair value of the contingent consideration arrangement increased to $100 million due to the conditions being met. The net change in fair value is reported in “Other” operating expenses in our consolidated statements of income. The valuation of the assets acquired and liabilities assumed has not yet been finalized. Further, the finalization of purchase price adjustments as provided in the stock purchase agreement is expected to occur in the fourth quarter of 2024. As a result, provisional estimates have been recorded and are subject to change, primarily for accounts that include the use of estimates, such as medical claims and benefits payable, receivables, amounts due government agencies, certain acquired intangible assets, and certain tax assets and liabilities. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Such assets include synergies we expect to achieve as a result of the transaction, such as the use of our existing infrastructure to support the added membership, and future economic benefits arising from the assembled workforce. All of the goodwill was assigned to the Medicare segment and is deductible for income tax purposes. The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions. Assets acquired: Current assets $ 341 Goodwill 395 Intangible assets 141 Other long-term assets 57 Liabilities assumed: Medical claims and benefits payable (463) Amounts due government agencies (21) Accounts payable, accrued and other long-term liabilities (23) Fair value of net assets acquired $ 427 The table below presents intangible assets acquired, by major class, for the Bright Health Medicare acquisition. The weighted-average amortization period, in the aggregate, is 11.1 years. Fair Value Life (In millions) (Years) Contract rights - member list $ 104 10 Trade name 32 15 Provider network 5 10 $ 141 My Choice. On September 1, 2023, we closed on our acquisition of My Choice Wisconsin for preliminary purchase consideration of approximately $74 million. In August 2024, we paid purchase consideration of $49 million as a result of final purchase price adjustments as provided in the asset purchase agreement. In the nine months ended September 30, 2024, we recorded various measurement period adjustments that were insignificant. These measurement period adjustments and purchase price adjustments have been finalized as of September 30, 2024.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We consider the carrying amounts of current assets and current liabilities to approximate their fair values because of the relatively short period of time between the origination of these instruments and their expected realization or payment. For our financial instruments measured at fair value on a recurring basis, we prioritize the inputs used in measuring fair value according to the three-tier fair value hierarchy. For a description of the methods and assumptions used to: a) estimate the fair value; and b) determine the classification according to the fair value hierarchy for each financial instrument, refer to our 2023 Annual Report on Form 10-K, Note 5, “Fair Value Measurements.” Our financial instruments measured at fair value on a recurring basis at September 30, 2024, were as follows: Observable Inputs Directly or Indirectly Observable Inputs Unobservable Inputs Total (Level 1) (Level 2) (Level 3) (In millions) Corporate debt securities $ 2,848 $ — $ 2,848 $ — Mortgage-backed securities 945 — 945 — Asset-backed securities 438 — 438 — Municipal securities 195 — 195 — U.S. Treasury notes 5 — 5 — Other 51 — 51 — Total assets $ 4,482 $ — $ 4,482 $ — Our financial instruments measured at fair value on a recurring basis at December 31, 2023, were as follows: Observable Inputs Directly or Indirectly Observable Inputs Unobservable Inputs Total (Level 1) (Level 2) (Level 3) (In millions) Corporate debt securities $ 2,732 $ — $ 2,732 $ — Mortgage-backed securities 911 — 911 — Asset-backed securities 365 — 365 — Municipal securities 166 — 166 — U.S. Treasury notes 40 — 40 — Other 45 — 45 — Total assets $ 4,259 $ — $ 4,259 $ — Fair Value Measurements – Disclosure Only The carrying amounts and estimated fair values of our notes payable are classified as Level 2 financial instruments. Fair value for these securities is determined using a market approach based on quoted market prices for similar securities in active markets or quoted prices for identical securities in inactive markets. September 30, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value (In millions) 4.375% Notes due 2028 $ 795 $ 778 $ 794 $ 757 3.875% Notes due 2030 644 604 644 583 3.875% Notes due 2032 743 685 742 654 Credit Facility 150 150 — — Total $ 2,332 $ 2,217 $ 2,180 $ 1,994

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Available-for-Sale We consider all of our investments classified as current assets to be available-for-sale. The following tables summarize our current investments as of the dates indicated: September 30, 2024 Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses (In millions) Corporate debt securities $ 2,837 $ 37 $ 26 $ 2,848 Mortgage-backed securities 963 11 29 945 Asset-backed securities 441 3 6 438 Municipal securities 197 2 4 195 U.S. Treasury notes 5 — — 5 Other 51 1 1 51 Total $ 4,494 $ 54 $ 66 $ 4,482 December 31, 2023 Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses (In millions) Corporate debt securities $ 2,781 $ 16 $ 65 $ 2,732 Mortgage-backed securities 951 4 44 911 Asset-backed securities 376 1 12 365 Municipal securities 172 — 6 166 U.S. Treasury notes 40 — — 40 Other 47 — 2 45 Total $ 4,367 $ 21 $ 129 $ 4,259 The contractual maturities of our current investments as of September 30, 2024 are summarized below: Amortized Cost Estimated (In millions) Due in one year or less $ 581 $ 577 Due after one year through five years 2,295 2,297 Due after five years through ten years 509 519 Due after ten years 1,109 1,089 Total $ 4,494 $ 4,482 In the nine months ended September 30, 2024, and 2023, maturities and redemptions of available-for-sale securities amounted to $786 million and $410 million, respectively, and sales amounted to $85 million and $260 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $2 million for the nine months ended September 30, 2024 and were insignificant for the nine months ended September 30, 2023. Gross realized investment losses amounted to $3 million and $10 million in the nine months ended September 30, 2024 and 2023, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. We have determined that unrealized losses at September 30, 2024, and December 31, 2023, primarily resulted from fluctuating interest rates, rather than a deterioration of the creditworthiness of the issuers. Therefore, we determined that an allowance for credit losses was not necessary. So long as we maintain the intent and ability to hold these securities to maturity, we are unlikely to experience realized losses. In the event that we dispose of these securities before maturity, we expect that realized losses, if any, will be insignificant. The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of September 30, 2024: In a Continuous Loss Position In a Continuous Loss Position Estimated Unrealized Total Number of Positions Estimated Unrealized Total Number of Positions (Dollars in millions) Corporate debt securities $ — $ — — $ 1,057 $ 26 506 Mortgage-backed securities — — — 444 29 256 Asset-backed securities — — — 157 6 77 Municipal securities — — — 102 4 97 Other — — — 16 1 16 Total $ — $ — — $ 1,776 $ 66 952 The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of December 31, 2023: In a Continuous Loss Position In a Continuous Loss Position Estimated Unrealized Total Number of Positions Estimated Unrealized Total Number of Positions (Dollars in millions) Corporate debt securities $ 263 $ 1 160 $ 1,553 $ 64 754 Mortgage-backed securities 123 2 98 549 42 283 Asset-backed securities — — — 195 12 91 Municipal securities — — — 117 6 116 Other — — — 17 2 17 Total $ 386 $ 3 258 $ 2,431 $ 126 1,261 Restricted Investments Held-to-Maturity Pursuant to the regulations governing our state health plan subsidiaries, we maintain statutory deposits and deposits required by government authorities primarily in cash, cash equivalents, U.S. Treasury securities, and corporate debt securities. We also maintain restricted investments as protection against the insolvency of certain capitated providers. The use of these funds is limited as required by regulations in the various states in which we operate, or as needed in the event of insolvency of capitated providers. Therefore, such investments are reported as “Restricted investments” in the accompanying consolidated balance sheets. We have the ability to hold these restricted investments until maturity and, as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value. Such investments amounted to $289 million at September 30, 2024, of which $207 million will mature in one year or less, $77 million will mature in one through five years, and $5 million will mature after five years.

Medical Claims and Benefits Pay

Medical Claims and Benefits Payable	9 Months Ended
Medical Claims and Benefits Payable	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Medical Claims and Benefits Payable	Medical Claims and Benefits Payable The following table provides the details of our medical claims and benefits payable as of the dates indicated: September 30, December 31, (In millions) Claims incurred but not paid (“IBNP”) $ 3,065 $ 2,901 Pharmacy payable 249 202 Capitation payable 173 100 Other 1,245 1,001 Total $ 4,732 $ 4,204 “Other” medical claims and benefits payable mainly includes amounts payable to certain providers for which we act as an intermediary on behalf of various government agencies without assuming financial risk. Such receipts and payments do not impact our consolidated statements of income. Non-risk provider payables amounted to $493 million and $481 million as of September 30, 2024, and December 31, 2023, respectively. The following tables present the components of the change in our medical claims and benefits payable for the periods indicated. The amounts presented for “Components of medical care costs related to: Prior years” represent the amount by which our original estimate of medical claims and benefits payable at the beginning of the year varied from the actual liabilities, based on information (principally the payment of claims) developed since those liabilities were first reported. Nine Months Ended September 30, 2024 Medicaid Medicare Marketplace Consolidated (In millions) Medical claims and benefits payable, beginning balance $ 3,444 $ 532 $ 228 $ 4,204 Components of medical care costs related to: Current year 20,903 3,798 1,349 26,050 Prior years (553) (70) (2) (625) Total medical care costs 20,350 3,728 1,347 25,425 Payments for medical care costs related to: Current year 17,813 3,237 1,122 22,172 Prior years 2,256 742 217 3,215 Total paid 20,069 3,979 1,339 25,387 Acquired balances, net of post-acquisition adjustments — 463 — 463 Change in non-risk and other payables 27 — — 27 Medical claims and benefits payable, ending balance $ 3,752 $ 744 $ 236 $ 4,732 Nine Months Ended September 30, 2023 Medicaid Medicare Marketplace Consolidated (In millions) Medical claims and benefits payable, beginning balance $ 2,815 $ 452 $ 261 $ 3,528 Components of medical care costs related to: Current year 17,630 2,811 1,132 21,573 Prior years (327) (6) (25) (358) Total medical care costs 17,303 2,805 1,107 21,215 Payments for medical care costs related to: Current year 14,961 2,340 927 18,228 Prior years 2,074 424 209 2,707 Total paid 17,035 2,764 1,136 20,935 Acquired balances, net of post-acquisition adjustments 83 13 — 96 Change in non-risk and other provider payables 335 (4) — 331 Medical claims and benefits payable, ending balance $ 3,501 $ 502 $ 232 $ 4,235 Our estimates of medical claims and benefits payable recorded at December 31, 2023, and 2022 developed favorably by approximately $625 million and $358 million as of September 30, 2024, and 2023, respectively. The favorable prior year development recognized in the nine months ended September 30, 2024 was primarily attributable to reserving under moderately adverse conditions, lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2024, as claims payments were processed, were lower than our estimates in 2023.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our outstanding debt obligations, all of which are non-current as of the dates reported below: September 30, December 31, (In millions) Non-current long-term debt: 4.375% Notes due 2028 $ 800 $ 800 3.875% Notes due 2030 650 650 3.875% Notes due 2032 750 750 Credit Facility 150 — Deferred debt issuance costs (18) (20) Total $ 2,332 $ 2,180 Credit Agreement On September 20, 2024, we entered into a Second Amendment to our credit agreement (the “Amended Credit Agreement”) which includes an increase in available commitments under the revolving credit facility (“Credit Facility”) to $1.25 billion, among other provisions. The Amended Credit Agreement has a term of five years, and all amounts outstanding will be due and payable on September 20, 2029. Borrowings under the Amended Credit Agreement bear interest based, at our election, on a base rate or other defined rate, plus in each case, the applicable margin. In addition to interest payable on the principal amount of indebtedness outstanding from time to time under the Amended Credit Agreement, we are required to pay a quarterly commitment fee. We have other relationships, including financial advisory and banking, with some parties to the Amended Credit Agreement. The Amended Credit Agreement contains customary non-financial and financial covenants. As of September 30, 2024, we were in compliance with all financial and non-financial covenants under the Amended Credit Agreement. As of September 30, 2024, $150 million was outstanding under the Credit Facility. Senior Notes Our senior notes are described below. Each of these notes are senior unsecured obligations of the parent corporation, Molina Healthcare, Inc., and rank equally in right of payment with all existing and future senior debt, and senior to all existing and future subordinated debt of Molina Healthcare, Inc. In addition, each of the indentures governing the senior notes contain customary non-financial covenants and change of control provisions. As of September 30, 2024, we were in compliance with all non-financial covenants in the indentures governing the senior notes. The indentures governing the senior notes contain cross-default provisions that are triggered upon default by us or any of our subsidiaries on any indebtedness in excess of the amount specified in the applicable indenture. 4.375% Notes due 2028. We have $800 million aggregate principal amount of senior notes (the “4.375% Notes”) outstanding as of September 30, 2024, which are due June 15, 2028, unless earlier redeemed. Interest, at a rate of 4.375% per annum, is payable semiannually in arrears on June 15 and December 15. 3.875% Notes due 2030. We have $650 million aggregate principal amount of senior notes (the “3.875% Notes due 2030”) outstanding as of September 30, 2024, which are due November 15, 2030, unless earlier redeemed. Interest, at a rate of 3.875% per annum, is payable semiannually in arrears on May 15 and November 15. 3.875% Notes due 2032.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity In September 2023, our board of directors authorized the purchase of up to $750 million, in the aggregate, of our common stock. Under this program, pursuant to a Rule 10b5-1 trading plan, we purchased approximately 1,465,000 shares for $500 million in the third quarter of 2024 (average cost of $341.25 per share). We have accrued a stock repurchase excise tax of $3 million related to the share repurchase program as of September 30, 2024 located in “Accounts payable, accrued liabilities and other” and “Additional paid-in capital” in the accompanying consolidated balance sheets. In October 2024, our board of directors authorized the purchase of up to $1 billion of our common stock. This new program extends through December 31, 2025 and supersedes the stock purchase program previously approved by our board of directors in September 2023. The exact timing and amount of any repurchase is determined by management based on market conditions and share price, in addition to other factors, and repurchases generally will be made in accordance with the volume, price, and timing parameters under Rule 10b-18 of the Securities Exchange Act of 1934, as amended. No shares have been repurchased under this program.

Segments

Segments	9 Months Ended
Segments	Sep. 30, 2024
Segment Reporting [Abstract]
Segments	Segments We currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other. Our reportable segments are consistent with how we currently manage the business and view the markets we serve. The Medicaid, Medicare, and Marketplace segments represent the government-funded or sponsored programs under which we offer managed healthcare services. The Other segment, which is insignificant to our consolidated results of operations, includes long-term services and supports consultative services in Wisconsin. The key metrics used to assess the performance of our Medicaid, Medicare, and Marketplace segments are premium revenue, medical margin and medical care ratio (“MCR”). MCR represents the amount of medical care costs as a percentage of premium revenue. Therefore, the underlying medical margin, or the amount earned by the Medicaid, Medicare, and Marketplace segments after medical costs are deducted from premium revenue, represents the most important measure of earnings reviewed by management, and is used by our chief executive officer to review results, assess performance, and allocate resources. The key metric used to assess the performance of our Other segment is service margin. The service margin is equal to service revenue minus cost of service revenue. We do not report total assets by segment since this is not a metric used to assess segment performance or allocate resources. The following table presents total revenue by segment. Inter-segment revenue was insignificant for all periods presented. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions) Total revenue: Medicaid $ 8,263 $ 6,976 $ 23,896 $ 20,282 Medicare 1,385 1,046 4,301 3,157 Marketplace 672 507 1,894 1,528 Other 20 19 60 57 Consolidated $ 10,340 $ 8,548 $ 30,151 $ 25,024 The following table reconciles margin by segment to consolidated income before income tax expense: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions) Margin: Medicaid $ 730 $ 752 $ 2,188 $ 2,242 Medicare 142 78 522 317 Marketplace 179 104 509 393 Other 1 2 5 7 Total margin 1,052 936 3,224 2,959 Add: other operating revenues (1) 626 289 1,447 800 Less: other operating expenses (2) (1,211) (866) (3,344) (2,502) Operating income 467 359 1,327 1,257 Less: interest expense 29 27 84 82 Income before income tax expense $ 438 $ 332 $ 1,243 $ 1,175 ______________________ (1) Other operating revenues include premium tax revenue, investment income, and certain other revenue. (2) Other operating expenses include general and administrative expenses, premium tax expenses, depreciation and amortization, and certain other operating expenses.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The healthcare industry is subject to numerous laws and regulations of federal, state, and local governments, as well as various contractual provisions, governing our operations. Compliance with these laws, regulations, and contractual provisions can be subject to government audit, review, and interpretation, as well as regulatory actions. Penalties associated with violations of these laws, regulations, and contractual provisions can include significant fines and penalties, temporary or permanent exclusion from participating in publicly funded programs, a limitation on our ability to market or sell products, the repayment of previously billed and collected revenues, and reputational damage. We are involved in legal actions in the ordinary course of business including, but not limited to, various employment claims, vendor disputes and provider claims. Some of these legal actions seek monetary damages, including claims for punitive damages, which may not be covered by insurance. We review legal matters and update our estimates, or range of estimates, of reasonably possible losses and related disclosures, as necessary. We have accrued liabilities for legal matters for which we deem the loss to be both probable and reasonably estimable. These liability estimates could change as a result of further developments. The outcome of these legal actions are inherently uncertain. An adverse determination in one or more of these pending matters could have a material adverse effect on our consolidated financial position, results of operations, or cash flows. Kentucky RFP. On September 4, 2020, Anthem Kentucky Managed Care Plan, Inc. (“Anthem”) brought an action in Franklin County Circuit Court against the Kentucky Finance and Administration Cabinet, the Kentucky Cabinet for Health and Family Services, and all of the five winning bidder health plans, including our Kentucky health plan. On September 9, 2022, the Kentucky Court of Appeals ruled that, with regard to the earlier Circuit Court ruling granting Anthem relief, the Circuit Court should not have invalidated the 2020 procurement and thus should not have awarded a contract to Anthem. Anthem sought discretionary review by the Kentucky Supreme Court (“KSC”) of the ruling by the Court of Appeals. On March 14, 2024, the KSC entered an Order affirming the Kentucky Court of Appeals. On April 3, 2024, Anthem filed a motion for reconsideration of the KSC Order, and the KSC has yet to rule. On September 9, 2024, Humana filed a motion in the Franklin Circuit Court to dissolve the injunction that retained Anthem as an additional awardee, and the Franklin Circuit Court has not yet ruled on the motion. Pending further KSC or Franklin Circuit Court orders, our Kentucky health plan will continue to operate for the foreseeable future under its current Medicaid contract. Puerto Rico. In August 2021, Molina Healthcare of Puerto Rico, Inc. (“MHPR”) filed a complaint with the Commonwealth of Puerto Rico, Court of First Instance, San Juan (State Court) asserting breach of contract against Puerto Rico Health Insurance Administration (“ASES”). In September 2021, ASES filed a counterclaim and a third-party complaint against MHPR and the Company. In October 2024, the parties finalized a settlement of all outstanding claims, the terms of which are not a material impact on the Company’s business, financial condition, cash flows, or results of operations. Texas Qui Tam Litigation.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 326	$ 301	$ 301	$ 245	$ 309	$ 321	$ 928	$ 875

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Consolidation and Interim Financial Information	Consolidation and Interim Financial Information The consolidated financial statements include the accounts of Molina Healthcare, Inc. and its subsidiaries. In the opinion of management, these financial statements reflect all normal recurring adjustments, which are considered necessary for a fair presentation of the results as of the dates and for the interim periods presented. All significant intercompany balances and transactions have been eliminated. The consolidated results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results for the entire year ending December 31, 2024. The unaudited consolidated interim financial statements have been prepared under the assumption that users of the interim financial data have either read or have access to our audited consolidated financial statements for the fiscal year ended December 31, 2023. Accordingly, certain disclosures that would substantially duplicate the disclosures contained in our December 31, 2023, audited consolidated financial statements have been omitted.
Use of Estimates	Use of Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents
Receivables	Receivables Receivables consist primarily of premium amounts due from government agencies, which are subject to potential retroactive adjustments. We apply the current expected credit loss model to measure expected credit losses on our receivables based on available information about past events and reasonable and supportable forecasts. Because substantially all of our receivable amounts are readily determinable and substantially all of our creditors are governmental authorities, our allowance for credit losses is insignificant. Any amounts determined to be uncollectible are charged to expense when such determination is made.
Premium Revenue Recognition and Amounts Due Government Agencies and Risk Adjustment and Premium Deficiency Reserve on Loss Contracts	Premium Revenue Recognition and Amounts Due Government Agencies Premium revenue is generated from our contracts with state and federal agencies, in connection with our participation in the Medicaid, Medicare, and Marketplace programs. Premium revenue is generally received based on per member per month (“PMPM”) rates established in advance of the periods covered. These premium revenues are recognized in the month that members are entitled to receive healthcare services, and premiums collected in advance are deferred. Many of our contracts contain provisions that may adjust or limit revenue or profit, as described below. Consequently, we recognize premium revenue as it is earned under such provisions. Liabilities accrued for premiums to be returned under such provisions are reported in the aggregate as “Amounts due government agencies” in the accompanying consolidated balance sheets. State Medicaid programs and the federal Medicare program periodically adjust premium rates, including certain components of premium revenue that are subject to accounting estimates and are described below, and in our 2023 Annual Report on Form 10-K, Note 2, “Significant Accounting Policies,” under “Premium Revenue Recognition and Amounts Due Government Agencies,” and “Quality Incentives.” Premium Deficiency Reserve on Loss Contracts
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments, receivables, and restricted investments. Our investments and a portion of our cash equivalents are managed by professional portfolio managers operating under documented investment guidelines. Our portfolio managers must obtain our prior approval before selling investments where the loss position of those investments exceeds certain levels. Our investments consist primarily of investment-grade debt securities with final maturities of less than 15 years, or less than 15 years average life for structured securities. Restricted investments are invested principally in cash, cash equivalents, U.S. Treasury securities, and corporate debt securities. Concentration of credit risk with respect to accounts receivable is limited because our payors consist principally of the federal government, and governments of each state in which our health plan subsidiaries operate.
Income Taxes	Income Taxes The provision for income taxes is determined using an estimated annual effective tax rate, which generally differs from the U.S. federal statutory rate primarily because of state taxes and nondeductible expenses such as certain compensation and other general and administrative expenses. The effective tax rate may be subject to fluctuations during the year as new information is obtained. Such information may affect the assumptions used to estimate the annual effective tax rate, including projected pretax earnings, the mix of pretax earnings in the various tax jurisdictions in which we operate, valuation allowances against deferred tax assets, the recognition or the reversal of the recognition of tax benefits related to uncertain tax positions, and changes in or the interpretation of tax laws in jurisdictions where we conduct business. We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities, along with net operating loss and tax credit carryovers.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent accounting pronouncements issued by the Financial Accounting Standards Board (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the Securities and Exchange Commission (“SEC”) did not have, nor does management expect such pronouncements to have, a significant impact on our present or future consolidated financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
Significant Accounting Policies (Tables)	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents, and restricted cash and cash equivalents reported within the accompanying consolidated balance sheets that sum to the total of the same such amounts presented in the accompanying consolidated statements of cash flows. The restricted cash and cash equivalents presented below are included in “Restricted investments” in the accompanying consolidated balance sheets. September 30, 2024 2023 (In millions) Cash and cash equivalents $ 4,732 $ 5,565 Restricted cash and cash equivalents 147 55 Total cash, cash equivalents, and restricted cash and cash equivalents presented in the consolidated statements of cash flows $ 4,879 $ 5,620
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents, and restricted cash and cash equivalents reported within the accompanying consolidated balance sheets that sum to the total of the same such amounts presented in the accompanying consolidated statements of cash flows. The restricted cash and cash equivalents presented below are included in “Restricted investments” in the accompanying consolidated balance sheets. September 30, 2024 2023 (In millions) Cash and cash equivalents $ 4,732 $ 5,565 Restricted cash and cash equivalents 147 55 Total cash, cash equivalents, and restricted cash and cash equivalents presented in the consolidated statements of cash flows $ 4,879 $ 5,620
Schedule of Receivables	September 30, December 31, (In millions) Government receivables $ 2,210 $ 2,354 Pharmacy rebate receivables 335 330 Other 714 420 Total receivables $ 3,259 $ 3,104

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Denominators for The Computation of Basic and Diluted Earnings Per Share	The following table sets forth the calculation of basic and diluted net income per share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions, except net income per share) Numerator: Net income $ 326 $ 245 $ 928 $ 875 Denominator: Shares outstanding at the beginning of the period 58.1 57.8 57.8 57.4 Weighted-average number of shares issued: Stock-based compensation — — 0.2 0.3 Stock purchases (0.5) — (0.2) — Denominator for basic net income per share 57.6 57.8 57.8 57.7 Effect of dilutive securities: (1) Stock-based compensation 0.1 0.3 0.3 0.4 Denominator for diluted net income per share 57.7 58.1 58.1 58.1 Net income per share - Basic (2) $ 5.67 $ 4.24 $ 16.05 $ 15.18 Net income per share - Diluted (2) $ 5.65 $ 4.21 $ 15.97 $ 15.08 ______________________________ (1) The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income per share because to do so would be anti-dilutive. For the three and nine months ended September 30, 2024, 196,000 shares and 102,000 shares, respectively, were excluded from diluted shares outstanding. (2) Source data for calculations in thousands.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
Business Combinations (Tables)	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	The acquisition-date fair value of the consideration transferred consisted of the following, in millions: Fair value of consideration transferred: Cash $ 341 Contingent consideration 86 Total $ 427
Schedule of The Provisional Fair Values Assigned To Assets Acquired and Liabilities Assumed	The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions. Assets acquired: Current assets $ 341 Goodwill 395 Intangible assets 141 Other long-term assets 57 Liabilities assumed: Medical claims and benefits payable (463) Amounts due government agencies (21) Accounts payable, accrued and other long-term liabilities (23) Fair value of net assets acquired $ 427
Schedule of Intangible Assets	The table below presents intangible assets acquired, by major class, for the Bright Health Medicare acquisition. The weighted-average amortization period, in the aggregate, is 11.1 years. Fair Value Life (In millions) (Years) Contract rights - member list $ 104 10 Trade name 32 15 Provider network 5 10 $ 141

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured on Recurring Basis	Our financial instruments measured at fair value on a recurring basis at September 30, 2024, were as follows: Observable Inputs Directly or Indirectly Observable Inputs Unobservable Inputs Total (Level 1) (Level 2) (Level 3) (In millions) Corporate debt securities $ 2,848 $ — $ 2,848 $ — Mortgage-backed securities 945 — 945 — Asset-backed securities 438 — 438 — Municipal securities 195 — 195 — U.S. Treasury notes 5 — 5 — Other 51 — 51 — Total assets $ 4,482 $ — $ 4,482 $ — Our financial instruments measured at fair value on a recurring basis at December 31, 2023, were as follows: Observable Inputs Directly or Indirectly Observable Inputs Unobservable Inputs Total (Level 1) (Level 2) (Level 3) (In millions) Corporate debt securities $ 2,732 $ — $ 2,732 $ — Mortgage-backed securities 911 — 911 — Asset-backed securities 365 — 365 — Municipal securities 166 — 166 — U.S. Treasury notes 40 — 40 — Other 45 — 45 — Total assets $ 4,259 $ — $ 4,259 $ —
Schedule of Fair Value Measurements of Senior Notes	September 30, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value (In millions) 4.375% Notes due 2028 $ 795 $ 778 $ 794 $ 757 3.875% Notes due 2030 644 604 644 583 3.875% Notes due 2032 743 685 742 654 Credit Facility 150 150 — — Total $ 2,332 $ 2,217 $ 2,180 $ 1,994

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	The following tables summarize our current investments as of the dates indicated: September 30, 2024 Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses (In millions) Corporate debt securities $ 2,837 $ 37 $ 26 $ 2,848 Mortgage-backed securities 963 11 29 945 Asset-backed securities 441 3 6 438 Municipal securities 197 2 4 195 U.S. Treasury notes 5 — — 5 Other 51 1 1 51 Total $ 4,494 $ 54 $ 66 $ 4,482 December 31, 2023 Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses (In millions) Corporate debt securities $ 2,781 $ 16 $ 65 $ 2,732 Mortgage-backed securities 951 4 44 911 Asset-backed securities 376 1 12 365 Municipal securities 172 — 6 166 U.S. Treasury notes 40 — — 40 Other 47 — 2 45 Total $ 4,367 $ 21 $ 129 $ 4,259
Schedule of Contractual Maturities of Investments	The contractual maturities of our current investments as of September 30, 2024 are summarized below: Amortized Cost Estimated (In millions) Due in one year or less $ 581 $ 577 Due after one year through five years 2,295 2,297 Due after five years through ten years 509 519 Due after ten years 1,109 1,089 Total $ 4,494 $ 4,482
Schedule of Available-for-Sale Investments	The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of September 30, 2024: In a Continuous Loss Position In a Continuous Loss Position Estimated Unrealized Total Number of Positions Estimated Unrealized Total Number of Positions (Dollars in millions) Corporate debt securities $ — $ — — $ 1,057 $ 26 506 Mortgage-backed securities — — — 444 29 256 Asset-backed securities — — — 157 6 77 Municipal securities — — — 102 4 97 Other — — — 16 1 16 Total $ — $ — — $ 1,776 $ 66 952 The following table segregates those available-for-sale investments that have been in a continuous loss position for less than 12 months, and those that have been in a continuous loss position for 12 months or more as of December 31, 2023: In a Continuous Loss Position In a Continuous Loss Position Estimated Unrealized Total Number of Positions Estimated Unrealized Total Number of Positions (Dollars in millions) Corporate debt securities $ 263 $ 1 160 $ 1,553 $ 64 754 Mortgage-backed securities 123 2 98 549 42 283 Asset-backed securities — — — 195 12 91 Municipal securities — — — 117 6 116 Other — — — 17 2 17 Total $ 386 $ 3 258 $ 2,431 $ 126 1,261

Medical Claims and Benefits P_2

Medical Claims and Benefits Payable (Tables)	9 Months Ended
Medical Claims and Benefits Payable (Tables)	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense	The following table provides the details of our medical claims and benefits payable as of the dates indicated: September 30, December 31, (In millions) Claims incurred but not paid (“IBNP”) $ 3,065 $ 2,901 Pharmacy payable 249 202 Capitation payable 173 100 Other 1,245 1,001 Total $ 4,732 $ 4,204
Schedule of Components of The Change in Medical Claims and Benefits Payable	The following tables present the components of the change in our medical claims and benefits payable for the periods indicated. The amounts presented for “Components of medical care costs related to: Prior years” represent the amount by which our original estimate of medical claims and benefits payable at the beginning of the year varied from the actual liabilities, based on information (principally the payment of claims) developed since those liabilities were first reported. Nine Months Ended September 30, 2024 Medicaid Medicare Marketplace Consolidated (In millions) Medical claims and benefits payable, beginning balance $ 3,444 $ 532 $ 228 $ 4,204 Components of medical care costs related to: Current year 20,903 3,798 1,349 26,050 Prior years (553) (70) (2) (625) Total medical care costs 20,350 3,728 1,347 25,425 Payments for medical care costs related to: Current year 17,813 3,237 1,122 22,172 Prior years 2,256 742 217 3,215 Total paid 20,069 3,979 1,339 25,387 Acquired balances, net of post-acquisition adjustments — 463 — 463 Change in non-risk and other payables 27 — — 27 Medical claims and benefits payable, ending balance $ 3,752 $ 744 $ 236 $ 4,732 Nine Months Ended September 30, 2023 Medicaid Medicare Marketplace Consolidated (In millions) Medical claims and benefits payable, beginning balance $ 2,815 $ 452 $ 261 $ 3,528 Components of medical care costs related to: Current year 17,630 2,811 1,132 21,573 Prior years (327) (6) (25) (358) Total medical care costs 17,303 2,805 1,107 21,215 Payments for medical care costs related to: Current year 14,961 2,340 927 18,228 Prior years 2,074 424 209 2,707 Total paid 17,035 2,764 1,136 20,935 Acquired balances, net of post-acquisition adjustments 83 13 — 96 Change in non-risk and other provider payables 335 (4) — 331 Medical claims and benefits payable, ending balance $ 3,501 $ 502 $ 232 $ 4,235

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long Term Debt	The following table summarizes our outstanding debt obligations, all of which are non-current as of the dates reported below: September 30, December 31, (In millions) Non-current long-term debt: 4.375% Notes due 2028 $ 800 $ 800 3.875% Notes due 2030 650 650 3.875% Notes due 2032 750 750 Credit Facility 150 — Deferred debt issuance costs (18) (20) Total $ 2,332 $ 2,180

Segments (Tables)

Segments (Tables)	9 Months Ended
Segments (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Operating Segment Information	The following table presents total revenue by segment. Inter-segment revenue was insignificant for all periods presented. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions) Total revenue: Medicaid $ 8,263 $ 6,976 $ 23,896 $ 20,282 Medicare 1,385 1,046 4,301 3,157 Marketplace 672 507 1,894 1,528 Other 20 19 60 57 Consolidated $ 10,340 $ 8,548 $ 30,151 $ 25,024 The following table reconciles margin by segment to consolidated income before income tax expense: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions) Margin: Medicaid $ 730 $ 752 $ 2,188 $ 2,242 Medicare 142 78 522 317 Marketplace 179 104 509 393 Other 1 2 5 7 Total margin 1,052 936 3,224 2,959 Add: other operating revenues (1) 626 289 1,447 800 Less: other operating expenses (2) (1,211) (866) (3,344) (2,502) Operating income 467 359 1,327 1,257 Less: interest expense 29 27 84 82 Income before income tax expense $ 438 $ 332 $ 1,243 $ 1,175 ______________________ (1) Other operating revenues include premium tax revenue, investment income, and certain other revenue. (2) Other operating expenses include general and administrative expenses, premium tax expenses, depreciation and amortization, and certain other operating expenses.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) member in Thousands, $ in Millions		1 Months Ended			3 Months Ended	9 Months Ended
	Jul. 23, 2024 USD ($)	Oct. 24, 2024 region	May 31, 2024 option	Apr. 30, 2024 region option	Jun. 30, 2024	Sep. 30, 2024 region segment member state	Jul. 31, 2024 member	Jul. 01, 2024 member	Jan. 01, 2024 member
Segment Reporting Information [Line Items]
Number of reportable segments \| segment						4
Health Plans
Segment Reporting Information [Line Items]
Number of members eligible for the health care programs, approximately						5,600
Number of states with programs \| state						21
Medicaid \| Nebraska Department of Health and Human Services
Segment Reporting Information [Line Items]
Number of members eligible for the health care programs, approximately									114
Medicaid \| MICHIGAN \| Michigan Department of Health and Human Services
Segment Reporting Information [Line Items]
Contract term				5 years
Number of service regions contract awarded \| region				6
Number of potential for renewals \| option				3
Renewal term				1 year
Medicaid \| FLORIDA \| Florida Agency for Healthcare Administration
Segment Reporting Information [Line Items]
Number of members eligible for the health care programs, approximately							90
Medicaid \| NEW MEXICO \| New Mexico Health Care Authority
Segment Reporting Information [Line Items]
Number of members eligible for the health care programs, approximately								33
Medicaid \| WISCONSIN \| Wisconsin Department of Health Services
Segment Reporting Information [Line Items]
Contract term			2 years
Number of potential for renewals \| option			3
Renewal term			2 years
Medicaid \| MISSISSIPPI \| DOM
Segment Reporting Information [Line Items]
Contract term					4 years
Medicaid \| Minimum
Segment Reporting Information [Line Items]
Contract term						3 years
Medicaid \| Maximum
Segment Reporting Information [Line Items]
Contract term						5 years
Medicare \| ConnectiCare
Segment Reporting Information [Line Items]
Purchase price \| $	$ 350
Medicare \| Bright Health Medicare
Segment Reporting Information [Line Items]
Number of members added through acquisition									109
Issued and outstanding capital stock acquisition, percentage									100%
Medicare \| MICHIGAN \| Highly Integrated Dual Eligible Special Needs
Segment Reporting Information [Line Items]
Number of service regions contract awarded \| region						2
Medicare \| MICHIGAN \| Highly Integrated Dual Eligible Special Needs \| Subsequent Event
Segment Reporting Information [Line Items]
Contract term		7 years
Number of service regions contract awarded \| region		6
Medicare \| Minimum
Segment Reporting Information [Line Items]
Contract term						1 year
Medicare \| Maximum
Segment Reporting Information [Line Items]
Contract term						3 years

Significant Accounting Polici_4

Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 4,732	$ 4,848	$ 5,565
Restricted cash and cash equivalents	147		55
Total cash, cash equivalents, and restricted cash and cash equivalents presented in the consolidated statements of cash flows	$ 4,879	$ 4,908	$ 5,620	$ 4,048

Significant Accounting Polici_5

Significant Accounting Policies - Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 3,259	$ 3,104
Government receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	2,210	2,354
Pharmacy rebate receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	335	330
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 714	$ 420

Significant Accounting Polici_6

Significant Accounting Policies - Amounts Due To Government Agencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Amounts Due To Government Agencies, Medicaid Program [Abstract]
Medical premiums liability, medical care costs threshold	$ 1,176	$ 1,344
Percent due to medicare, medical loss ratio	85%	85%
Amounts due to medicare	$ 40	$ 64
Percent due to medicare, medical loss ratio of marketplace	80%	80%

Significant Accounting Polici_7

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Schedule of Premium Revenue by Health Plan Type [Line Items]
Amounts due to government agencies, risk adjustment and Part D risk sharing		$ 82	$ 66
Risk adjustment payable		207	201
Risk adjustment receivable		282	241
Risk adjustment, net receivable		$ 75	$ 40
Risk adjustment, credit loss allowance	$ 41
Maturity period (less than)		15 years
Structured Securities
Schedule of Premium Revenue by Health Plan Type [Line Items]
Average maturity period (less than)		15 years

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income	$ 326	$ 301	$ 301	$ 245	$ 309	$ 321	$ 928	$ 875
Denominator:
Shares outstanding at the beginning of the period (in shares)		58,100			57,800				57,800	57,400
Weighted-average number of shares issued:
Stock-based compensation (in shares)	0			0			200	300
Stock purchases (in shares)	(500)			0			(200)	0
Denominator for basic net income per share (in shares)	57,600			57,800			57,800	57,700
Effect of dilutive securities:
Stock-based compensation (in shares)	100			300			300	400
Denominator for diluted net income per share (in shares)	57,700			58,100			58,100	58,100
Net income per share:
Net income per share - Basic (in dollars per share)	$ 5.67			$ 4.24			$ 16.05	$ 15.18
Net income per share - Diluted (in dollars per share)	$ 5.65			$ 4.21			$ 15.97	$ 15.08
Potentially dilutive common shares (in shares)	196						102

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Millions			1 Months Ended
	Jan. 01, 2024	Sep. 01, 2023	Aug. 31, 2024	Sep. 30, 2024
Bright Health Medicare
Business Acquisition, Contingent Consideration [Line Items]
Cash paid for acquisition	$ 441
Acquisition costs				$ 3
Contingent consideration liabilities	100
Consideration transferred	86
Third-party escrow	100
Acquired receivable, fair value	14
Fair value of contingent consideration				$ 100
Purchase price	$ 427
My Choice Wisconsin
Business Acquisition, Contingent Consideration [Line Items]
Purchase price		$ 74
Additional purchase consideration			$ 49

Business Combinations - Summary

Business Combinations - Summary of Fair Value Consideration (Details) - USD ($) $ in Millions		9 Months Ended
	Jan. 01, 2024	Sep. 30, 2024	Sep. 30, 2023
Business Combination, Separately Recognized Transactions [Line Items]
Cash		$ 344	$ 3
Bright Health Medicare
Business Combination, Separately Recognized Transactions [Line Items]
Cash	$ 341
Contingent consideration	86
Fair value of net assets acquired	$ 427

Business Combinations - Schedul

Business Combinations - Schedule of The Provisional Fair Values Assigned To Assets Acquired and Liabilities Assumed (Details) - Bright Health Medicare $ in Millions	Jan. 01, 2024 USD ($)
Assets acquired:
Current assets	$ 341
Goodwill	395
Intangible assets	141
Other long-term assets	57
Liabilities assumed:
Medical claims and benefits payable	(463)
Amounts due government agencies	(21)
Accounts payable, accrued and other long-term liabilities	(23)
Fair value of net assets acquired	$ 427

Business Combinations - Intangi

Business Combinations - Intangible Assets Acquired (Details) - Bright Health Medicare $ in Millions	Jan. 01, 2024 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period	11 years 1 month 6 days
Intangible assets	$ 141
Contract rights - member list
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 104
Intangible asset useful life	10 years
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 32
Intangible asset useful life	15 years
Provider network
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 5
Intangible asset useful life	10 years

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 4,482	$ 4,259
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	2,848	2,732
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	438	365
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	195	166
U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	5	40
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	51	45
Fair value, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,482	4,259
Fair value, recurring \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	2,848	2,732
Fair value, recurring \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	945	911
Fair value, recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	438	365
Fair value, recurring \| Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	195	166
Fair value, recurring \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	5	40
Fair value, recurring \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	51	45
Fair value, recurring \| (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Fair value, recurring \| (Level 1) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 1) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 1) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 1) \| Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 1) \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 1) \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,482	4,259
Fair value, recurring \| (Level 2) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	2,848	2,732
Fair value, recurring \| (Level 2) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	945	911
Fair value, recurring \| (Level 2) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	438	365
Fair value, recurring \| (Level 2) \| Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	195	166
Fair value, recurring \| (Level 2) \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	5	40
Fair value, recurring \| (Level 2) \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	51	45
Fair value, recurring \| (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Fair value, recurring \| (Level 3) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 3) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 3) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 3) \| Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 3) \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Fair value, recurring \| (Level 3) \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 0	$ 0

Fair Value Measurements - Long-

Fair Value Measurements - Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Senior Notes \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 2,332	$ 2,180
Senior Notes \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 2,217	1,994
Senior Notes \| 4.375% Notes due 2028
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate, stated percentage	4.375%
Senior Notes \| 4.375% Notes due 2028 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 795	794
Senior Notes \| 4.375% Notes due 2028 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 778	757
Senior Notes \| 3.875% Notes due 2030
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate, stated percentage	3.875%
Senior Notes \| 3.875% Notes due 2030 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 644	644
Senior Notes \| 3.875% Notes due 2030 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 604	583
Senior Notes \| 3.875% Notes due 2032
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate, stated percentage	3.875%
Senior Notes \| 3.875% Notes due 2032 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 743	742
Senior Notes \| 3.875% Notes due 2032 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	685	654
Credit Facility \| Credit Facility \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	150	0
Credit Facility \| Credit Facility \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 150	$ 0

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 4,494	$ 4,367
Gross Unrealized Gains	54	21
Gross Unrealized Losses	66	129
Estimated Fair Value	4,482	4,259
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,837	2,781
Gross Unrealized Gains	37	16
Gross Unrealized Losses	26	65
Estimated Fair Value	2,848	2,732
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	963	951
Gross Unrealized Gains	11	4
Gross Unrealized Losses	29	44
Estimated Fair Value	945	911
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	441	376
Gross Unrealized Gains	3	1
Gross Unrealized Losses	6	12
Estimated Fair Value	438	365
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	197	172
Gross Unrealized Gains	2	0
Gross Unrealized Losses	4	6
Estimated Fair Value	195	166
U.S. Treasury notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5	40
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	5	40
Other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	51	47
Gross Unrealized Gains	1	0
Gross Unrealized Losses	1	2
Estimated Fair Value	$ 51	$ 45

Investments - Contractual Matur

Investments - Contractual Maturities of Available-for-Sale Investments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Due in one year or less	$ 581
Due after one year through five years	2,295
Due after five years through ten years	509
Due after ten years	1,109
Amortized Cost	4,494	$ 4,367
Estimated Fair Value
Due in one year or less	577
Due after one year through five years	2,297
Due after five years through ten years	519
Due after ten years	1,089
Total	$ 4,482

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Sale and maturity of debt securities, available-for-sale	$ 786	$ 410
Sale of debt securities, available-for-sale	85	260
Gross realized investment gains	2	0
Gross realized investment losses	3	$ 10
Restricted investments	289		$ 261
Amortized cost, due in one year or less	207
Amortized cost, due one year through five years	77
Amortized cost, due after five years	$ 5

Investments - Available-for-Sal

Investments - Available-for-Sale Investments (Details) $ in Millions	Sep. 30, 2024 USD ($) position	Dec. 31, 2023 USD ($) position
Debt Securities, Available-for-sale [Line Items]
In a Continuous Loss Position for Less than 12 Months, Estimated Fair Value	$ 0	$ 386
In a Continuous Loss Position for Less than 12 Months, Gross Unrealized Losses	$ 0	$ 3
In a Continuous Loss Position for Less than 12 Months, Total Number of Positions \| position	0	258
In a Continuous Loss Position for 12 Months or More, Estimated Fair Value	$ 1,776	$ 2,431
In a Continuous Loss Position for 12 Months or More, Gross Unrealized Losses	$ 66	$ 126
In a Continuous Loss Position for 12 Months or More, Total Number of Positions \| position	952	1,261
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
In a Continuous Loss Position for Less than 12 Months, Estimated Fair Value	$ 0	$ 263
In a Continuous Loss Position for Less than 12 Months, Gross Unrealized Losses	$ 0	$ 1
In a Continuous Loss Position for Less than 12 Months, Total Number of Positions \| position	0	160
In a Continuous Loss Position for 12 Months or More, Estimated Fair Value	$ 1,057	$ 1,553
In a Continuous Loss Position for 12 Months or More, Gross Unrealized Losses	$ 26	$ 64
In a Continuous Loss Position for 12 Months or More, Total Number of Positions \| position	506	754
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
In a Continuous Loss Position for Less than 12 Months, Estimated Fair Value	$ 0	$ 123
In a Continuous Loss Position for Less than 12 Months, Gross Unrealized Losses	$ 0	$ 2
In a Continuous Loss Position for Less than 12 Months, Total Number of Positions \| position	0	98
In a Continuous Loss Position for 12 Months or More, Estimated Fair Value	$ 444	$ 549
In a Continuous Loss Position for 12 Months or More, Gross Unrealized Losses	$ 29	$ 42
In a Continuous Loss Position for 12 Months or More, Total Number of Positions \| position	256	283
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
In a Continuous Loss Position for Less than 12 Months, Estimated Fair Value	$ 0	$ 0
In a Continuous Loss Position for Less than 12 Months, Gross Unrealized Losses	$ 0	$ 0
In a Continuous Loss Position for Less than 12 Months, Total Number of Positions \| position	0	0
In a Continuous Loss Position for 12 Months or More, Estimated Fair Value	$ 157	$ 195
In a Continuous Loss Position for 12 Months or More, Gross Unrealized Losses	$ 6	$ 12
In a Continuous Loss Position for 12 Months or More, Total Number of Positions \| position	77	91
Municipal securities
Debt Securities, Available-for-sale [Line Items]
In a Continuous Loss Position for Less than 12 Months, Estimated Fair Value	$ 0	$ 0
In a Continuous Loss Position for Less than 12 Months, Gross Unrealized Losses	$ 0	$ 0
In a Continuous Loss Position for Less than 12 Months, Total Number of Positions \| position	0	0
In a Continuous Loss Position for 12 Months or More, Estimated Fair Value	$ 102	$ 117
In a Continuous Loss Position for 12 Months or More, Gross Unrealized Losses	$ 4	$ 6
In a Continuous Loss Position for 12 Months or More, Total Number of Positions \| position	97	116
Other
Debt Securities, Available-for-sale [Line Items]
In a Continuous Loss Position for Less than 12 Months, Estimated Fair Value	$ 0	$ 0
In a Continuous Loss Position for Less than 12 Months, Gross Unrealized Losses	$ 0	$ 0
In a Continuous Loss Position for Less than 12 Months, Total Number of Positions \| position	0	0
In a Continuous Loss Position for 12 Months or More, Estimated Fair Value	$ 16	$ 17
In a Continuous Loss Position for 12 Months or More, Gross Unrealized Losses	$ 1	$ 2
In a Continuous Loss Position for 12 Months or More, Total Number of Positions \| position	16	17

Medical Claims and Benefits P_3

Medical Claims and Benefits Payable - Medical Claims and Benefits Payable (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Claims incurred but not paid (“IBNP”)	$ 3,065	$ 2,901
Pharmacy payable	249	202
Capitation payable	173	100
Other	1,245	1,001
Total	$ 4,732	$ 4,204	$ 4,235	$ 3,528

Medical Claims and Benefits P_4

Medical Claims and Benefits Payable - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Non-risk provider payables	$ 493		$ 481
Prior period claims, favorable development	$ (625)	$ (358)

Medical Claims and Benefits P_5

Medical Claims and Benefits Payable - Components of Change in Medical Claims and Benefits Payable (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Insurance Claims
Medical claims and benefits payable, beginning balance	$ 4,204	$ 3,528
Components of medical care costs related to:
Current year	26,050	21,573
Prior years	(625)	(358)
Total medical care costs	25,425	21,215
Payments for medical care costs related to:
Current year	22,172	18,228
Prior years	3,215	2,707
Total paid	25,387	20,935
Acquired balances, net of post-acquisition adjustments	463	96
Change in non-risk and other payables	27	331
Medical claims and benefits payable, ending balance	4,732	4,235
Medicaid
Insurance Claims
Medical claims and benefits payable, beginning balance	3,444	2,815
Components of medical care costs related to:
Current year	20,903	17,630
Prior years	(553)	(327)
Total medical care costs	20,350	17,303
Payments for medical care costs related to:
Current year	17,813	14,961
Prior years	2,256	2,074
Total paid	20,069	17,035
Acquired balances, net of post-acquisition adjustments	0	83
Change in non-risk and other payables	27	335
Medical claims and benefits payable, ending balance	3,752	3,501
Medicare
Insurance Claims
Medical claims and benefits payable, beginning balance	532	452
Components of medical care costs related to:
Current year	3,798	2,811
Prior years	(70)	(6)
Total medical care costs	3,728	2,805
Payments for medical care costs related to:
Current year	3,237	2,340
Prior years	742	424
Total paid	3,979	2,764
Acquired balances, net of post-acquisition adjustments	463	13
Change in non-risk and other payables	0	(4)
Medical claims and benefits payable, ending balance	744	502
Marketplace
Insurance Claims
Medical claims and benefits payable, beginning balance	228	261
Components of medical care costs related to:
Current year	1,349	1,132
Prior years	(2)	(25)
Total medical care costs	1,347	1,107
Payments for medical care costs related to:
Current year	1,122	927
Prior years	217	209
Total paid	1,339	1,136
Acquired balances, net of post-acquisition adjustments	0	0
Change in non-risk and other payables	0	0
Medical claims and benefits payable, ending balance	$ 236	$ 232

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Deferred debt issuance costs	$ (18)	$ (20)
Total	$ 2,332	2,180
Senior Notes \| 4.375% Notes due 2028
Debt Instrument [Line Items]
Percentage of contractual interest rate on notes	4.375%
Non-current portion of long-term debt	$ 800	800
Senior Notes \| 3.875% Notes due 2030
Debt Instrument [Line Items]
Percentage of contractual interest rate on notes	3.875%
Non-current portion of long-term debt	$ 650	650
Senior Notes \| 3.875% Notes due 2032
Debt Instrument [Line Items]
Percentage of contractual interest rate on notes	3.875%
Non-current portion of long-term debt	$ 750	750
Credit Facility \| Credit Facility
Debt Instrument [Line Items]
Credit Facility	$ 150	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Sep. 20, 2024	Sep. 30, 2024
Credit Facility \| Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,250,000,000
Debt term	5 years
Amount outstanding under letter of credit		$ 150,000,000
Senior Notes \| 4.375% Notes due 2028
Debt Instrument [Line Items]
Percentage of contractual interest rate on notes		4.375%
Face amount		$ 800,000,000
Senior Notes \| 3.875% Notes due 2030
Debt Instrument [Line Items]
Percentage of contractual interest rate on notes		3.875%
Face amount		$ 650,000,000
Senior Notes \| 3.875% Notes due 2032
Debt Instrument [Line Items]
Percentage of contractual interest rate on notes		3.875%
Face amount		$ 750,000,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended
	Sep. 30, 2024	Oct. 24, 2024	Sep. 30, 2023
Class of Stock [Line Items]
Common stock purchases	$ 500,000,000
Stock purchase excise tax	$ 3,000,000
Common Stock Repurchase Program, September 2023
Class of Stock [Line Items]
Common stock authorized (in shares)			$ 750,000,000
Repurchased of common stock (in shares)	1,465
Common stock purchases	$ 500,000,000
Average cost (USD per share)	$ 341.25
Stock purchase excise tax	$ 3,000,000
Common Stock Repurchase Program, October 2024 \| Subsequent Event
Class of Stock [Line Items]
Common stock authorized (in shares)		$ 1,000,000,000

Segments - Narrative (Details)

Segments - Narrative (Details)	9 Months Ended
Segments - Narrative (Details)	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segments - Operating Segment In

Segments - Operating Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 10,340	$ 8,548	$ 30,151	$ 25,024
Medicaid
Segment Reporting Information [Line Items]
Total revenue	8,263	6,976	23,896	20,282
Medicare
Segment Reporting Information [Line Items]
Total revenue	1,385	1,046	4,301	3,157
Marketplace
Segment Reporting Information [Line Items]
Total revenue	672	507	1,894	1,528
Other
Segment Reporting Information [Line Items]
Total revenue	$ 20	$ 19	$ 60	$ 57

Segments - Reconciliation of Gr

Segments - Reconciliation of Gross Margin to Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Less: other operating expenses	$ (9,873)	$ (8,189)	$ (28,824)	$ (23,767)
Operating income	467	359	1,327	1,257
Less: interest expense	29	27	84	82
Income before income tax expense	438	332	1,243	1,175
Operating segments
Segment Reporting Information [Line Items]
Total margin	1,052	936	3,224	2,959
Operating segments \| Medicaid
Segment Reporting Information [Line Items]
Total margin	730	752	2,188	2,242
Operating segments \| Medicare
Segment Reporting Information [Line Items]
Total margin	142	78	522	317
Operating segments \| Marketplace
Segment Reporting Information [Line Items]
Total margin	179	104	509	393
Operating segments \| Other
Segment Reporting Information [Line Items]
Total margin	1	2	5	7
Other operating
Segment Reporting Information [Line Items]
Add: other operating revenues	626	289	1,447	800
Less: other operating expenses	$ (1,211)	$ (866)	$ (3,344)	$ (2,502)