Claims Processor Salary
Average Claims Processors in the United States make around $14.84 per hour. The specific employer is the biggest factor affecting pay for this group, followed by the particular city and tenure. Though the majority of Claims Processors do not report high levels of job satisfaction, most are moderately content with their role. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Women account for the majority of Claims Processors who took the survey — 82 percent to be exact. The data in this summary comes from the PayScale salary survey.
|Salary||$28,183 - $48,494|
|Bonus||$400.00 - $3,000|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$24,456 - $44,100|
|Hourly Rate||$11.22 - $19.18|
|Overtime||$18.00 - $29.37|
|Bonus||$400.00 - $3,000|
|Total Pay (||$24,456 - $44,100|
Job Description for Claims Processor
Claims processors - also called claims adjustors - are responsible for accurately and efficiently entering and processing claims for their organization. Claims processors generally work in the insurance industry and they work for many types of companies (such as those specializing in health insurance, automobile insurance, and/or home insurance). These claims may be received via the computer, on paper, or over the phone; processed claims create approvals (which send payment) or denials. Claims processors may be required to answer phone calls from policyholders related to claims, and they must be able to answer such calls quickly and accurately. They typically work in an office setting during normal business hours. If they answer phone calls, claims processors may be required to work on weekends and evenings. This position may be part time or full time, and some companies allow claims processors to work from home. Claims processors generally work seated at a computer workstation for extended periods of time.Read More...
Claims processors are usually required to have at least a high school diploma or equivalent, and some employers may require a postsecondary degree. Once hired, claims processors are often required to take additional classes to become proficient within their area of insurance and the policies of their industry. Claims processors must be familiar with basic computer use and claims processing software. They must pay excellent attention to detail and have the ability to multitask under deadline. These professionals must have outstanding customer service and communication skills.
Claims Processor Tasks
- Coordinate claims with Medicare and other group insurance carriers.
- Audit other team member's claims as needed.
- Determine proper payees for benefits in order to discharge company's liabilities.
- Approve claim payments.
- Process flexible spending account claims of any type for multiple welfare plans according to established rules and guidelines.
Popular Employer Salaries for Claims Processor
Known for taking on a considerable number of Claims Processors, State Farm Insurance Company, Allstate Insurance Company, UnitedHealth Group, Blue Cross and Blue Shield of South Carolina, Inc. (BCBSSC), and WellPoint, Inc. are leading firms in the industry. State Farm Insurance Company leads the field in terms of pay, with a median salary of $48K. Claims Processors will also find cushy salaries at Allstate Insurance Company (+$35K), Cigna Corporation (+$32K), and UnitedHealth Group (+$30K).
Also approaching the lower end are Allstate at $29K, WellPoint, Inc. at $30K, and UnitedHealth Group at $30K.
Popular Skills for Claims Processor
Survey results suggest that Claims Processors use a fairly large toolkit of professional skills. Most notably, skills in Insurance, Customer Service, Medical Coding, and Claim Handling are correlated to pay that is above average. At the other end of the pay range are skills like Data Entry, Data Processing, and Billing. Most people experienced in Claim Handling also know Billing and Medical Coding.
Pay by Experience Level for Claims Processor
Median of all compensation (including tips, bonus, and overtime) by years of experience.
More years of relevant experience do not necessarily translate to higher paychecks. Those in the early stages of their career can expect to make around $30K; however, individuals with five to 10 years of experience bring in $35K on average — a distinctly larger sum. Claims Processors who work for 10 to 20 years in their occupation tend to earn about $37K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $41K.
Claims Processor Reviews
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Key Stats for Claims Processor
Rated 4 out of 5
based on 47 votes.