Key Takeaways Elevance sees a 2025 benefit expense ratio near 90%, up from 88.5% in 2024.Commercial individual membership rose 9.7% in 1H 2025.Carelon revenues are expected to climb nearly 30% in 2025, led by Carelon Services' 60% surge.Elevance Health, Inc. (ELV) , like most peers in the health benefits space, is contending with pressure from rising medical cost trends in ACA plans, slower Medicaid rate recovery, and higher utilization, prompting a reduction in its 2025 outlook. In the first half of the ye ...