Insurance Claims Specialist Salary (United States)

Insurance Claims Specialists in the United States pull down an average of $40,492 annually. Compensation starts at $25,970 and can reach $74,381 per year. Overall cash income ranges from $32,073 near the bottom to $79,300) near the top; it includes potential earnings of $5,126 from bonuses and $7,400 from profit sharing in exceptional cases. The most influential factor affecting pay for this group is geography, though the company and experience level have a (lesser) impact as well. Benefits are plentiful in this line of work; most people have both medical and dental plans, and more than half have vision insurance. Men are in the minority in the field, with female Insurance Claims Specialists making up 73 percent of workers. Job satisfaction is reported as high by the vast majority of workers. This overview is based on answers to PayScale's salary questionnaire.
Insurance Claims Specialist Salary (?
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.
)
$32,073 - $79,300
(Median)
32K
39K
51K
65K
79K
MEDIAN: $50,806
10%
25%
50%
75%
90%
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Insurance Claims Specialist Salary (?
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.
)
$10.84 - $20.42
(Median)
11
13
15
17
20
MEDIAN: $15.00
10%
25%
50%
75%
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$27K$54K$81K
Salary
$32,073 - $79,300  
   
Bonus
$0.00 - $5,126  
Profit Sharing
$484.79 - $7,400  
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).
)
$25,970 - $74,381  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 588
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$13$26$39
Hourly Rate
$10.84 - $20.42  
   
Overtime
$10.00 - $33.88  
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$26K$52K$78K
Bonus
$0.00 - $5,126  
   
Profit Sharing
$484.79 - $7,400  
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).
)
$25,970 - $74,381  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 438
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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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Compensation usually increases greatly for Insurance Claims Specialists who advance in their career. Upper-end positions like Insurance Claims Manager may make an additional $31K per year than lower-end positions. Becoming a Medical Billing Specialist is, more often than not, the most common role that Insurance Claims Specialists move into when they're ready for the next step in their career, despite the fact that salaries take a $9,791 cut. Another frequent advance is for Insurance Claims Specialists to assume an Insurance Claims Supervisor role; in this role, workers often enjoy a $20K raise in pay.

Insurance Claims Specialist Job Listings

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Popular Employer Salaries for Insurance Claims Specialist

Many Insurance Claims Specialists can be found at Allstate Insurance Company, Liberty Mutual Insurance Group, Nationwide Mutual Insurance Company, State Farm Insurance Company, and Allstate, firms that are at the top of the field. The biggest paychecks can be found at State Farm Insurance Company—the median salary there is $69,000.
Find the lowest pay by far at Allstate—the company has a median salary of $26,985, 156 percent less than the top paying company. Workers also receive paychecks lighter than average at Allstate Insurance Company.

Popular Skills for Insurance Claims Specialist

Insurance Claims Specialists report using a wide range of professional skills. Most notably, facility with Litigation Case Management, Negotiation, and Claim Handling are correlated to pay that is significantly above average, leading to increases of 58 percent, 33 percent, and 4 percent, respectively. Those listing Medical Coding as a skill should be prepared for drastically lower pay. Insurance and Customer Service also typically command lower compensation. The majority of those who know 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.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher salaries. Salaries can reach $41K from $34K after five to 10 years. After 10 to 20 years, compensation comes in at $47K. After 20 years of work in the field, Insurance Claims Specialists typically earn $62K and go on to enjoy solid increases in earnings. Experienced employees who have 10-20 years of experience make up 25 percent of the workforce; inexperienced individuals who have been working for less than one year comprise 6 percent, and senior people with more than 20 years under their belt fill out the remaining 17 percent. In this field, workers tend to have anywhere from one to nine years of experience—of those surveyed, more than half land within this range.

Pay Difference By Location

New York
up arrow 119%
up arrow 48%
Orlando
up arrow 27%
Cleveland
up arrow 27%
up arrow 24%
Dallas
up arrow 19%
Pittsburgh
up arrow 19%
Seattle
up arrow 14%
Philadelphia
up arrow 7%
Minneapolis
up arrow 4%
Cincinnati
up arrow 1%
National Average
$40,000
Indianapolis
up arrow 12%
Charlotte
up arrow 14%
Houston
up arrow 16%
San Antonio
up arrow 17%
Larger circles over a city indicate a job is popular in that location.
For those looking to make money, Insurance Claims Specialists in New York enjoy an exceptional pay rate, 119 percent above the national average. Insurance Claims Specialists can also look forward to large paychecks in cities like Chicago (+48 percent), Orlando (+27 percent), Cleveland (+27 percent), and Atlanta (+24 percent). Falling short of the national average by 17 percent, the area with the worst salaries is San Antonio. Workers in Houston and Charlotte earn less than others in this profession; their -16 percent and -14 percent-salaries fall short of the national average.

Related Job Salaries

Experience Affects Insurance Claims Specialist Salaries

National Average
$40,000

Skills That Affect Insurance Claims Specialist Salaries

Litigation Case Management
up arrow 58%
Claim Handling
up arrow 4%
National Average
$40,000

Job Satisfaction

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Highly satisfied
Rated 4 out of 5 based on 240 votes.

Gender

Female
73%
female alumni
 
Male
27%
male alumni

Years of Experience

Less than 1 year
6%
1-4 years
29%
5-9 years
23%
10-19 years
25%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 73%
vision benefits Vision: 56% employee benefits None: 13%
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