Oct 30 (Reuters) - Humana beat Wall Street

estimates for third-quarter profit on Wednesday, buoyed by

strength in its government-backed Medicare Advantage insurance

business for older adults.

The health insurer relies heavily on Medicare Advantage

plans, through which the U.S. government pays private insurers a

fixed rate to manage healthcare for people aged 65 and older or

those with disabilities.

Humana reported a medical cost ratio of 89.9%, up from

86.6% a year earlier. This ratio, which tracks costs, represents

the percentage of premiums spent on medical care.

Analysts had expected the medical cost ratio to be

89.94% for the quarter.

On an adjusted basis, the company reported a profit of $4.16

per share, higher than the average analyst estimate of $3.40,

according to data polled by LSEG.

The Louisville, Kentucky-based company reported a quarterly

adjusted revenue of $29.3 billion beating estimates of $28.67

billion.