CVS Health reported the highest medical benefit ratio at 92.5%, driven by increased utilization, the unfavorable impact of 2024 Medicare Advantage star ratings, and the impact of higher acuity Medicaid members following redeterminations.
Payers ranked by 2024 MLRs:
CVS Health
2024: 92.5%
2023: 86.2%
Humana
2024: 89.8%
2023: 88%
Molina Healthcare
2024: 89.1%
2023: 88.1%
Elevance Health
2024: 88.5%
2023: 87%
Centene
2024: 88.3%
2023: 87.7%
UnitedHealth Group
2024: 85.5%
2023: 83.2%
Cigna Group
2024: 83.2%
2023: 81.3%
