In the health insurance industry, the margin for error is slim. Companies like WellPoint (NYSE:WLP) and UnitedHealth Group (NYSE:UNH) must pay particular attention to a single metric that separates the winners and losers in this massive market. This statistic is the benefits expense ratio - also called the medical loss ratio - simply, the cost of providing health care to members divided by the revenues from the premiums paid by these members.
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