Consultant, Health Insurance Salary
A big portion of take-home pay for Health Insurance Consultants — nearly all, in fact — arrives through commissions. This profession's median overall income is approximately $53K. Unfortunately, some people in this line of work are without benefits — between a fifth and a fourth lack coverage. On the flip side, a strong majority have medical insurance and the greater part receive dental plans. Most Health Insurance Consultants survey respondents are women (74 percent). The majority of Health Insurance Consultants claim high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.
Job Description for Consultant, Health Insurance
A health insurance consultant helps customers choose health insurance plans that fulfill both their budgets and health needs. These consultant may work for an insurance company or for an agency which offers multiple insurance plans from different companies. Customers are generally individuals seeking health insurance, or businesses which are planning to offer health insurance to employees. The consultant will conduct an interview with the customer to determine their needs, and then explain and recommend options from which they should choose. He/she may also advise the customer on how to apply for the chosen insurance and walk them through the registration process.Read More...
Excellent customer service skills are important, as the consultant will work directly with customers, either at an office or potential customers’ homes. This job is also offered as a call center position by some employers. A basic salary is generally offered, though commission is usually given based on sales. Basic computer skills are required, as much a great deal of information may need to be entered into a database. Sales skills and the ability to persuade customers are also needed.
Many positions will allow sales consultants to acquire customers naturally, while others may involve searching for customers through leads and cold calls. Generally, a minimum of a high school diploma is required, and many positions require experience in customer service or sales.
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Pay by Experience Level for Consultant, Health Insurance
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Health Insurance Consultants generally obtain higher compensation for more plentiful past experience. Average salaries for inexperienced employees average out to around $37K, but folks who have five to 10 years of experience earn a higher median of $56K. After working for 10 to 20 years, Health Insurance Consultants make a median salary of $87K. More than 20 years of experience mean a somewhat bigger median paycheck of $90K, but it's not much more than what less experienced people make.