Insurance Claims Specialist Salary

Median pay for Insurance Claims Specialists in the United States is around $50K per year. Overall cash earnings for Insurance Claims Specialists stretch from $28K on the lower end to $72K near the top, and the heftiest packages can encompass around $7K from bonuses and $6K from profit sharing. The company is the main element affecting pay for this group — experience level and geography are driving factors as well. Most Insurance Claims Specialists survey respondents are women (75 percent). A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Work is enjoyable for Insurance Claims Specialists, who typically claim high levels of job satisfaction. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$32,569 - $79,163
$33K
$50K
$79K
MEDIAN: $49,888
10%
50%
90%

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$12.24 - $22.26
$12
$16
$22
MEDIAN: $16.29
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
$32,569 - $79,163  
   
Bonus
$0.00 - $7,217  
Profit Sharing
$0.00 - $5,817  
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).
)
$27,939 - $72,052  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 553
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
$12.24 - $22.26  
   
Overtime
$17.11 - $40.37  
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 - $7,217  
   
Commission
$3,000  
Profit Sharing
$0.00 - $5,817  
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).
)
$27,939 - $72,052  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 534

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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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For Insurance Claims Specialists, progressing to an Insurance Claims Manager role may result in a significant raise. On average, an Insurance Claims Manager can earn $72K annually. 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


State Farm Insurance Company, Liberty Mutual Insurance Group, Nationwide Mutual Insurance Company, Allstate, and Aetna, Inc. are top-notch employers for Insurance Claims Specialists in this area. Those at Zurich can expect to make the most, with the company offering a median salary of $65K. Soaring salaries can also be found at State Farm Insurance Company, Nationwide Mutual Insurance Company, and Liberty Mutual Insurance Group, where earnings of $62K, $57K, or $53K are standard for Insurance Claims Specialists.

Also approaching the lower end are Allstate Insurance Company at $32K, Allstate at $32K, and Aetna, Inc. at $37K.

Popular Skills for Insurance Claims Specialist


Survey results suggest that Insurance Claims Specialists put a wide range of professional skills to use. Most notably, facility with Litigation Case Management and Negotiation are correlated to pay that is significantly above average, leading to increases of 57 percent and 26 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Medical Coding, Electronic Medical Records, and Medical Terminology. Most people familiar with Claim Handling also know Customer Service.

Pay by Experience Level for Insurance Claims Specialist

Pay by Experience for an Insurance Claims Specialist has a positive trend. An entry-level Insurance Claims Specialist with less than 5 years of experience can expect to earn an average total compensation of $36,000 based on 476 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Claims Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $40,000 based on 278 salaries. An experienced Insurance Claims Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $43,000 based on 274 salaries. An Insurance Claims Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $60,000 based on 151 salaries.

Pay Difference by Location

National Average: $40,640

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

Home to some of the best pay for Insurance Claims Specialists, New York offers exceptional salaries, 36 percent above the national average. Insurance Claims Specialists will also find cushy salaries in Dallas (+33 percent), Louisville (+12 percent), Columbus (+11 percent), and Phoenix (+8 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. Employers also pay below the national average in Winston-Salem (18 percent lower) and Charlotte (7 percent lower).

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
75 %
Male
25 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 184 votes.
Less than 1 year
5%
1-4 years
35%
5-9 years
21%
10-19 years
22%
20 years or more
16%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Claims Specialist Salaries

▲48%

▲5%

▼0%

National Average
$41,000

▼12%

Skills That Affect Insurance Claims Specialist Salaries

Litigation Case Management
▲57%

▲26%


National Average
$41,000

▼2%


Medical Terminology
▼4%

Electronic Medical Records (EMR)
▼6%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 184 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
5%
1-4 years
35%
5-9 years
21%
10-19 years
22%
20 years or more
16%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 74%
vision benefits
Vision: 67%
no benefits
None: 15%
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