Oct 21 (Reuters) - Elevance Health ( ELV ) on Tuesday

beat Wall Street estimates for third-quarter profit as the

health insurer managed to keep medical costs in check.

On an adjusted basis, the company reported a profit of $6.03

per share, compared with the average of analysts' estimates of

$4.93 per share, as per data compiled by LSEG.

Elevance in July flagged elevated medical costs in its

individual plans that conform to the Affordable Care Act, also

known as Obamacare, and its Medicaid plans for low-income

people.

For the quarter, Elevance reported a medical loss ratio, the

percentage of premiums spent on medical care, of 91.3%, lower

than analysts' estimates of 91.73%.

The company said its third-quarter medical costs were

elevated "but expected".