Insurance Claims Specialist Salary

Insurance Claims Specialists in the United States can expect wages of $49K per year on average. Overall cash earnings for Insurance Claims Specialists stretch from $28K on the lower end to $71K near the top, and the heftiest packages can encompass around $8K from bonuses and $5K from profit sharing. This group's pay is mainly influenced by the specific employer, followed by the particular city and experience level. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Work is enjoyable for Insurance Claims Specialists, who typically claim high levels of job satisfaction. Female Insurance Claims Specialists make up most of the survey respondents at 74 percent. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$31,934 - $78,924
$32K
$49K
$79K
MEDIAN: $49,177
10%
50%
90%

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$12.13 - $22.15
$12
$16
$22
MEDIAN: $16.24
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
$31,934 - $78,924  
   
Bonus
$0.00 - $7,563  
Profit Sharing
$0.00 - $5,077  
Commission
$2,948  
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).
)
$27,860 - $70,675  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 512
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$13$26$39
Hourly Rate
$12.13 - $22.15  
   
Overtime
$15.53 - $38.91  
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$26K$52K$78K
Bonus
$0.00 - $7,563  
   
Commission
$2,948  
Profit Sharing
$0.00 - $5,077  
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).
)
$27,860 - $70,675  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 495

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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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At the upper end, Insurance Claims Specialists who move into an Insurance Claims Manager role can end up with a hefty increase in pay. The average income for Insurance Claims Managers is a much higher $72K per year. Many Insurance Claims Specialists advance into roles as Medical Billing Specialists or Office Managers, but 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


Insurance Claims Specialists flock to State Farm Insurance Company, Liberty Mutual Insurance Group, Nationwide Mutual Insurance Company, Allstate Insurance Company, and Allstate, highly regarded companies that employ a generous number of people in this profession. Although State Farm Insurance Company boasts the highest average salary in town at $63K, employee compensation still varies greatly — workers can make as little as $40K or as much as $92K. Nationwide Mutual Insurance Company, Zurich, and Liberty Mutual Insurance Group also offer top salaries for Insurance Claims Specialists. Workers at these firms can expect to earn about $57K, $53K, and $53K, respectively.

UnitedHealth Group, Allstate and Aetna, Inc. are three other employers with a reputation for below-average pay, showing salaries around $30K, $31K, and $35K.

Popular Skills for Insurance Claims Specialist


Insurance Claims Specialists generally report applying a varied skill set to their work. Most notably, facility with Litigation Case Management and Negotiation are correlated to pay that is significantly above average, leading to increases of 60 percent and 28 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Medical Coding and Electronic Medical Records. Most people experienced in Claim Handling also know Customer Service.

Pay by Experience Level for Insurance Claims Specialist

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


Insurance Claims Specialists with a lot of experience tend to enjoy higher earnings. Salaries for inexperienced workers average out to $40K, and those with five to 10 years' experience earn a higher median of $36K. Insurance Claims Specialists claiming one to two decades of experience make an estimated median of $43K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $58K on average.

Pay Difference by Location

National Average: $40,116

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

Dallas offers some of the highest pay in the country for Insurance Claims Specialists, 35 percent above the national average. Insurance Claims Specialists will also find cushy salaries in New York (+25 percent), Indianapolis (+24 percent), Louisville (+13 percent), and Columbus (+11 percent). Compared to the national average, Birmingham Insurance Claims Specialists have considerably lower salaries, 22 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. Not at the bottom but still paying below the median are employers in Winston-Salem and Charlotte (17 percent lower and 6 percent lower, respectively).

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 159 votes.
Less than 1 year
6%
1-4 years
34%
5-9 years
21%
10-19 years
23%
20 years or more
16%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Claims Specialist Salaries

▲45%

▲7%

▼0%

National Average
$40,000

▼11%

Skills That Affect Insurance Claims Specialist Salaries

Litigation Case Management
▲60%

▲28%


Customer Service
▼0%

National Average
$40,000

▼1%

Medical Terminology
▼3%

Electronic Medical Records (EMR)
▼5%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 159 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
6%
1-4 years
34%
5-9 years
21%
10-19 years
23%
20 years or more
16%

Common Health Benefits

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