Health insurance markets ranked by gross margins, MLRs

 In 2023, gross margins per member were highest in the Medicare Advantage market, and medical loss ratios were lowest in the individual market, according to a July 2 analysis from KFF.

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The analysis used data from the National Association of Insurance Commissioners that was compiled by Mark Farrah Associates. 

Gross margins per enrollee:

Medicare Advantage: $1,982

Individual market: $1,048

Group market: $910

Managed Medicaid: $753

Medical loss ratios:

Medicare Advantage: 87%

Managed Medicaid: 87%

Group market: 86%

Individual market: 84%

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