I personally like windows functions and use them often. here is a code snippet from me.
-----------Updates when all same except Region
UPDATE <tbl1>
SET <tbl1>.active_code='N'
FROM
(
SELECT
rank1,member_id,benefit_carrier,
benefit_region,benefit_subprogram,
benefit_group, enrollment_date,row_created max_updated,
exit_date,active_code
FROM...