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Insurance Claims Specialist Salary

It's impossible to make it big as a Insurance Claims Specialists in the United States; the average employee scrapes together only around $50K annually. Overall cash earnings for Insurance Claims Specialists vary widely between $26K and $72K; for a few high rollers, the final number can encompass upwards of $5K each from bonuses and profit sharing proceeds. Earnings for this group are mostly affected by geographic location, followed by tenure and the individual firm. Medical benefits are awarded to most, and a strong majority earn dental coverage. The majority of workers are highly satisfied with their job. Most Insurance Claims Specialists survey respondents are women (75 percent). Participants in PayScale's salary questionnaire provided the particulars of this report.
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$31,043 - $77,639
(Median)
$31K
$50K
$78K
MEDIAN: $50,327
10%
50%
90%

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$10.97 - $20.38
(Median)
$11
$15
$20
MEDIAN: $15.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$26K$52K$78K
Salary
$31,043 - $77,639  
   
Bonus
$0.00 - $5,100  
Profit Sharing
$482.88 - $5,034  
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).
)
$25,943 - $71,850  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 577
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$12$24$36
Hourly Rate
$10.97 - $20.38  
   
Overtime
$13.45 - $33.10  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Bonus
$0.00 - $5,100  
   
Profit Sharing
$482.88 - $5,034  
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).
)
$25,943 - $71,850  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 487

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Job Description for Insurance Claims Specialist

The insurance claims specialist's primary role involves handling the paperwork for insurance customers and the companies they work for. Insurance claims specialists explain insurance coverage to customers and potential customers, as well. They also provide guidance to customers when a claim is made, such as directing them to mechanics or repairmen whom the insurance company will work with.

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Insurance Claims Specialist Tasks

  • 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.
  • Assists client in filing claims and handling other claim related correspondence.
  • Assesses damages and meets with insurance personnel to receive compensation for the client.

Common Career Paths for Insurance Claims Specialist


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Many Insurance Claims Specialists move into an Insurance Claims Manager role, and folks who currently hold that position report a much higher median income of $72K per year. A Medical Billing Specialist role is the most common promotion for Insurance Claims Specialists moving up the ladder. Pay for this role tends to be $31K per year. Another typical, albeit less common, transition for Insurance Claims Specialists is an Insurance Claims Supervisor position, where earnings are usually $61K.

Insurance Claims Representative Job Listings

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Popular Employer Salaries for Insurance Claims Specialist


Known for taking on a considerable number of Insurance Claims Specialists, Liberty Mutual Insurance Group, Allstate Insurance Company, Nationwide Mutual Insurance Company, State Farm Insurance Company, and Allstate are leading firms in the industry. Liberty Mutual Insurance Group offers the largest salaries in town ($55K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $47K to $91K.

Allstate Insurance Company employees cannot expect much in terms of compensation — the median salary amounts to only $31K, 77 percent less than the top paying company.

Popular Skills for Insurance Claims Specialist


Overall, survey participants reported applying a fair number of skills to their work. Most notably, facility with Litigation Case Management, Negotiation, and Claim Handling are correlated to pay that is significantly above average, leading to increases of 63 percent, 32 percent, and 5 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Medical Coding. 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.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Relatively untried employees who have fewer than five years of experience earn around $34K on average. People who have worked for five to 10 years can expect a higher median salary of $40K. Insurance Claims Specialists bring in $45K after working for 10 to 20 years. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $60K on average.

Pay Difference by Location


For Insurance Claims Specialists, working in the bustling city of New York has its advantages, including an above-average pay rate. Insurance Claims Specialists can also look forward to large paychecks in cities like Chicago (+55 percent), Orlando (+26 percent), Pittsburgh (+20 percent), and Dallas (+18 percent). Houston is the lowest-paying area, 13 percent south of the national average. Not at the bottom but still paying below the median are employers in Charlotte and Seattle (11 percent lower and 2 percent lower, respectively).

Related Job Salaries

United States (change)

Experience Affects Insurance Claims Specialist Salaries




National Average
$39,000


Skills That Affect Insurance Claims Specialist Salaries

Litigation Case Management
up arrow 63%



Customer Service
0%

National Average
$39,000

Insurance
up arrow 3%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 216 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
7%
1-4 years
30%
5-9 years
21%
10-19 years
25%
20 years or more
16%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 73%
vision benefits Vision: 58% employee benefits None: 14%
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