Insurance Claims Specialist Salary

An average Insurance Claims Specialist in the United States can expect to take home roughly $49K annually. Total cash compensation for Insurance Claims Specialists runs from $28K to $70K depending on bonuses that can occasionally exceed $7K and profit sharing that can reach almost $5K. This group's pay is mainly influenced by the specific employer, followed by tenure and geographic location. Most workers in this position report high levels of job satisfaction. Medical benefits are awarded to most, and a strong majority earn dental coverage. Men are in the minority of survey respondents, with female Insurance Claims Specialists making up 74 percent. This report is based on responses to the PayScale salary survey.
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$32,663 - $78,453
$33K
$49K
$78K
MEDIAN: $49,236
10%
50%
90%

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$12.16 - $22.23
$12
$16
$22
MEDIAN: $16.22
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$27K$54K$81K
Salary
$32,663 - $78,453  
   
Bonus
$0.00 - $7,336  
Profit Sharing
$0.00 - $5,087  
Commission
$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).
)
$28,129 - $70,439  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 500
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$14$28$42
Hourly Rate
$12.16 - $22.23  
   
Overtime
$15.48 - $39.71  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$28K$56K$84K
Bonus
$0.00 - $7,336  
   
Commission
$3,000  
Profit Sharing
$0.00 - $5,087  
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).
)
$28,129 - $70,439  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 489

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Insurance Claims Specialist

An insurance claim specialist’s job is to facilitate the processing of claims. They must make sure that all regulations are followed and must be very detail-oriented. A college degree is often preferred, but it is not always necessary for this position. Knowledge of computers is very necessary, as they must be able to use software and run reports specific to their line of work.

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Insurance Claims Specialist Tasks

  • Assists client in filing claims and handling other claim related correspondence.
  • Assesses damages and meets with insurance personnel to receive compensation for the client.
  • Analyzes and interprets insurance policy in order to answer client's questions.
  • Works with insurance provider to obtain temporary car, house, or funds for the client.

Common Career Paths for Insurance Claims Specialist


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Insurance Claims Specialists who transition into an Insurance Claims Manager role may receive large pay increases as the latter position pays an average $72K per year. Insurance Claims Specialists most often advance into Medical Billing Specialist and Office Manager positions even though the median salaries are $9K lower and $2K lower, respectively.

Insurance Claims Representative Job Listings

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Popular Employer Salaries for Insurance Claims Specialist


Dominating the field, State Farm Insurance Company, Liberty Mutual Insurance Group, Nationwide Mutual Insurance Company, Allstate, and Aetna, Inc. are top firms with a reputation for hiring a great number of Insurance Claims Specialists. The biggest paychecks can be found at Zurich — the median salary there is $65K. State Farm Insurance Company, Nationwide Mutual Insurance Company, and Liberty Mutual Insurance Group also offer top salaries for Insurance Claims Specialists. Workers at these firms can expect to earn about $62K, $57K, and $53K, respectively.

Allstate Insurance Company, Allstate, and Aetna, Inc. are a few other employers known for handing out relatively lightweight salaries ($32K, $32K, and $37K respectively).

Popular Skills for Insurance Claims Specialist


Survey results imply that Insurance Claims Specialists put a diverse skill set to use. Most notably, facility with Litigation Case Management and Negotiation are correlated to pay that is significantly above average, leading to increases of 59 percent and 27 percent, respectively. At the other end of the pay range are skills like Medical Coding, Electronic Medical Records, and Medical Terminology. Those educated in Claim Handling tend to be well versed in Customer Service.

Pay by Experience Level for Insurance Claims Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience is an important factor influencing the compensation of Insurance Claims Specialists. Workers with less than five years' experience earn around $36K on average, and those who have five to 10 years under their belts see a higher median salary of $40K. Insurance Claims Specialists bring in $43K after working for 10 to 20 years. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $60K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

Pay Difference by Location

National Average: $40,299

Larger city markers indicate a job is popular in that location.

New York is home to an above-average pay rate for Insurance Claims Specialists, 37 percent higher than the national average. Insurance Claims Specialists can also look forward to large paychecks in cities like Dallas (+34 percent), Louisville (+13 percent), Columbus (+12 percent), and Phoenix (+9 percent). Insurance Claims Specialists in Birmingham make 21 percent less than the national average, proving that location is a major factor in pay. Two other places where employers offer below-median salaries are Winston-Salem (17 percent less) and Charlotte (6 percent less).

Insurance Claims Specialist Reviews

Q: What is it like working as an Insurance Claims Specialist?

Insurance Claims Specialist in Jefferson City:
Pros: Working with medical claims, accounts payable, flexible schedule, proximity to child's school and home.
Cons: Not being trained in all aspects after 2 years of employment.

Related Job Salaries

Key Stats for Insurance Claims Specialist

Gender

Female
74 %
Male
26 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 155 votes.
Less than 1 year
6%
1-4 years
35%
5-9 years
22%
10-19 years
22%
20 years or more
15%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Claims Specialist Salaries

▲49%

▲6%

▼0%

National Average
$40,000

▼11%

Skills That Affect Insurance Claims Specialist Salaries

Litigation Case Management
▲59%

▲27%


National Average
$40,000

▼1%


Medical Terminology
▼3%

Electronic Medical Records (EMR)
▼5%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 155 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
6%
1-4 years
35%
5-9 years
22%
10-19 years
22%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 74%
vision benefits
Vision: 68%
dental benefits
None: 14%
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