Feb 7 (Reuters) - Molina Healthcare beat Wall Street estimates for fourth-quarter profit on Wednesday, benefiting from higher premiums.

The company's revenue from premiums rose 5.6% to $8.36 billion in the quarter. Its total revenue of $9.05 billion beat analysts' expectations of $8.37 billion, according to LSEG data.

The health insurer's quarterly medical loss ratio, or the percentage of premiums paid out for medical services, was 89.1%, compared with analysts' estimate of 90%.

Molina's results follow those of rivals such as UnitedHealth , Humana and CVS' Aetna unit, all of which flagged a rise in medical costs in the fourth quarter, as older adults returned to hospitals to catch up on procedures like hip and knee replacement surgeries.

Molina sees its 2024 medical loss ratio to be 88.2%, versus analysts' estimates of 88.4%.

It expects 2024 adjusted profit to be at least $23.5 per share, versus LSEG estimates of $23.57 per share.

The company forecast 2024 revenue at $39.6 billion, compared with analysts' expectations of $38.17 billion.

The health insurer's main business is Medicaid insurance, which are government-backed plans for low-income people.

Memberships for its Medicaid plans fell 4.5% to 4.5 million in the quarter from the year earlier, while that for Medicare grew 10.3% to 172,000, the company said.

Government-backed Medicare program helps cover medical costs for people aged 65 and older, or those with certain disabilities.

Molina reported adjusted profit of $4.38 per share for the quarter ended Dec. 31, above analysts' estimate of $4.35 per share.

(Reporting by Puyaan Singh and Pratik Jain; Editing by Shilpi Majumdar)