$52,459
Avg. Salary
$16.69
Avg. Hourly Rate

Average additional compensation:

$2,023

Bonus

$1,929

Profit Sharing

$3,052

Commission

What am I worth?
How should I pay?

The average pay for an Insurance Claims Specialist is $16.69 per hour.

The average pay for an Insurance Claims Specialist is $52,459 per year.

10%
$12.32
10%
$16.69
50%
$23.16
90%
90%
MEDIAN $16.69
10%
$35k
10%
$52k
50%
$83k
90%
90%
MEDIAN $52,459
$34,707 - $82,710
$35K
$52K
$83K
MEDIAN: $52,459
10%
50%
90%

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$12.32 - $23.16
$12
$17
$23
MEDIAN: $16.69
10%
50%
90%

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$0$82K
Salary $34,707 - $82,710
Bonus $103 - $7,342
Profit Sharing $0.00 - $6,112
Commission $3,052
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).
)
$28,883 - $76,887
  • Country: United States
  • Currency: USD
  • Updated: 18 Mar 2019
  • Individuals Reporting: 1,050
Hourly Data $0$43
Hourly Rate $12.32 - $23.16
Overtime $17.79 - $43.47
Annual Data $0$76K
Bonus $103 - $7,342
Commission $3,052
Profit Sharing $0.00 - $6,112
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).
)
$28,883 - $76,887
  • Country: United States
  • Currency: USD
  • Updated: 18 Mar 2019
  • Individuals Reporting: 1,003

Job Description

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.

Read More...


Insurance Claims Specialists fill the offices of leading firms State Farm Insurance Company, Liberty Mutual Insurance Group, Nationwide Mutual Insurance Company, Allstate, and Aetna, Inc. The biggest paychecks can be found at Zurich — the median salary there is $65K. Insurance Claims Specialists can also look forward to large paychecks at State Farm Insurance Company ($62K), Nationwide Mutual Insurance Company ($57K), and Liberty Mutual Insurance Group ($53K).

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

Common Career Paths


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As Insurance Claims Specialists transition into upper-level roles such as Insurance Claims Manager, they may see a strong upturn in salary. Insurance Claims Managers earn $72K on average per year. Insurance Claims Specialists most frequently advance into Medical Billing Specialist and Office Manager roles even though the median salaries are $10K lower and $3K lower, respectively.

Job Listings

Popular Skills


Insurance Claims Specialists report using a pretty varied skill set on the job. Most notably, facility with Litigation Case Management and Negotiation are correlated to pay that is significantly above average, leading to increases of 55 percent and 24 percent, respectively. At the other end of the pay range are skills like Medical Coding, Electronic Medical Records, and Medical Terminology. Most people who know Claim Handling also know Customer Service.

Pay by Experience Level

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: $42,008

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

Insurance Claims Specialists will find that New York offers an impressive pay rate, one which exceeds the national average by 34 percent. Insurance Claims Specialists can also look forward to large paychecks in cities like Dallas (+31 percent), Louisville (+10 percent), Columbus (+10 percent), and Phoenix (+7 percent). Location is a huge contributor to overall pay, with Insurance Claims Specialists in Birmingham earning a whopping 23 percent below the national average. Two other places where employers offer below-median salaries are Winston-Salem (19 percent less) and Charlotte (8 percent less).

Job Reviews

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

Insurance Claims Specialist in Columbus:
"Nice."
Pros: restaurants
Cons: traffic

Insurance Claims Specialist in Johannesburg:
"Great."
Pros: the vive
Cons: traffic

Insurance Claims Specialist in Petaluma:
Pros: Great food to eat. Local breweries. Good people to work with.
Cons: The commute.

Insurance Claims Specialist in Johns Creek:
Pros: The security, benefits and stability. PTO and credit union is very nice and the diversity and inclusion.
Cons: The micro -management, team environment where you are told what task to do exactly when. You are expected to do every Claim in just a few minutes. You can't get a day off and the points system is not good. There is no work life balance for situations that come up.

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.

Insurance Claims Specialist in Jefferson City:
Pros: Medical claim knowledge, claims payable, flex time, close proximity to child's school and home.
Cons: Not being trained in all aspects of job, some management decisions.

Insurance Claims Specialist in Sarasota:
"The number of hours actually needed to complete the job."
Go with a company that will pay overtime, even if you are a salaried worker.

Related Job Salaries

Gender

Female
75 %
Male
25 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 423 votes.
Less than 1 year
5%
1-4 years
33%
5-9 years
20%
10-19 years
23%
20 years or more
18%

How Experience Affects Salaries

▲43%

▲2%

National Average
$42,000

▼4%

▼15%

How Skills Affect Salaries

Litigation Case Management
▲52%

▲22%

National Average
$42,000


▼5%


Medical Terminology
▼7%

Electronic Medical Records (EMR)
▼9%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 423 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
5%
1-4 years
33%
5-9 years
20%
10-19 years
23%
20 years or more
18%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 74%
vision benefits
Vision: 67%
no benefits
None: 17%