Cost of Revenue
Medical costs
Cincinnati Financial Medical costs increased by 19.0% to $1.75B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 11.0%, from $1.97B to $1.75B. Over 4 years (FY 2021 to FY 2025), Medical costs shows an upward trend with a 14.2% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementIncome Statement
SectionCost of Revenue
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ1 2013
Last reportedQ1 2026
How to read this metric
Lower costs relative to premiums indicate higher underwriting efficiency and better medical cost management.
Detailed definition
This represents the total expenses incurred for medical services, claims, and healthcare delivery provided to policyhold...
Peer comparison
Standard for health insurers; peers often report this as the medical loss ratio component.
Metric ID:
unh_medical_costsHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $915.00M | $1.07B | $919.00M | $1.03B | $1.32B | $1.42B | $1.25B | $1.40B | $1.34B | $1.33B | $1.20B | $1.35B | $1.48B | $1.58B | $1.33B | $1.97B | $1.66B | $1.54B | $1.47B | $1.75B |
| QoQ Change | — | +17.2% | -14.3% | +12.3% | +28.1% | +7.3% | -12.1% | +12.1% | -4.1% | -0.6% | -9.6% | +12.0% | +9.7% | +6.6% | -15.7% | +48.0% | -15.7% | -7.2% | -4.4% | +19.0% |
| YoY Change | — | — | — | — | +44.5% | +32.3% | +35.7% | +35.5% | +1.4% | -6.1% | -3.4% | -3.5% | +10.4% | +18.5% | +10.5% | +45.9% | +12.2% | -2.4% | +10.7% | -11.0% |
Range$915.00M – $1.97B
CAGR+14.6%
Avg YoY Growth+14.4%
Median YoY Growth+10.6%
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Commercial Insurance | $746.00M | $706.00M | $624.00M | $735.00M | $767.00M | $747.00M | $721.00M | $847.00M |
| Personal Insurance | $489.00M | $553.00M | $374.00M | $846.00M | $598.00M | $507.00M | $468.00M | $607.00M |
| Excess and Surplus Lines Insurance | $102.00M | $107.00M | $112.00M | $99.00M | $110.00M | $108.00M | $108.00M | $110.00M |
| Life Insurance Segment | $68.00M | $79.00M | $75.00M | $81.00M | $73.00M | $76.00M | $75.00M | $84.00M |
| Total | $1.48B | $1.58B | $1.33B | $1.97B | $1.66B | $1.54B | $1.47B | $1.75B |
Medical costs at Other Companies
Frequently Asked Questions
- What is Cincinnati Financial's medical costs?
- Cincinnati Financial (CINF) reported medical costs of $1.75B in Q1 2026.
- How has Cincinnati Financial's medical costs changed year-over-year?
- Cincinnati Financial's medical costs decreased by 11.0% year-over-year, from $1.97B to $1.75B.
- What is the long-term trend for Cincinnati Financial's medical costs?
- Over 4 years (2021 to 2025), Cincinnati Financial's medical costs has grown at a 14.2% compound annual growth rate (CAGR), from $3.91B to $6.64B.
- What does medical costs mean?
- The total cost of healthcare services provided to insured members.