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Claims analyst hiring summary. Here are some key points about hiring claims analysts in the United States:
Here's a step-by-step claims analyst hiring guide:
A claims analyst specializes in processing medical insurance claims. They are primarily responsible for verifying the authenticity and eligibility of claims, analyzing the billing, communicating with policyholders, and ensuring adherence to all the policies and regulations during the entire procedure. Furthermore, a claims analyst is also in charge of administrative tasks such as keeping and updating records, reaching out and sending reports to creditors, setting appointments and schedules, processing paperwork, coordinating with key personnel, and discussing terms and necessary information to clients.
Before you post your claims analyst job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a claims analyst for hire on a part-time basis or as a contractor.
You should also consider the ideal background you'd like them a claims analyst to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a claims analyst that fits the bill.
This list presents claims analyst salaries for various positions.
| Type of Claims Analyst | Description | Hourly rate |
|---|---|---|
| Claims Analyst | Claims adjusters, appraisers, examiners, and investigators evaluate insurance claims. They decide whether an insurance company must pay a claim, and if so, how much... Show more | $13-37 |
| Appraiser | An appraiser is someone who assesses the monetary value of a property such as an automobile, real property, and personal claim. His/Her or her responsibilities include resolving disparities between a property's monetary values and preparing narrative reports for projects... Show more | $13-28 |
| Adjuster | An adjuster is responsible for evaluating the extent of loss in the company by calculating the damage costs, determining the settlement payment to the client, and managing the reputation of the company for claims accountability. Adjusters must have extensive knowledge of the insurance principles and processes, following the state and federal regulations to protect clients and the business from insurance fraud... Show more | $16-32 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $66,699 | $32 |
| 2 | District of Columbia | $60,716 | $29 |
| 3 | Michigan | $58,490 | $28 |
| 4 | Virginia | $58,413 | $28 |
| 5 | New York | $57,980 | $28 |
| 6 | California | $56,014 | $27 |
| 7 | Massachusetts | $51,561 | $25 |
| 8 | Nevada | $51,149 | $25 |
| 9 | Indiana | $50,547 | $24 |
| 10 | Connecticut | $50,513 | $24 |
| 11 | Missouri | $48,563 | $23 |
| 12 | Maryland | $48,018 | $23 |
| 13 | Georgia | $47,963 | $23 |
| 14 | Pennsylvania | $47,769 | $23 |
| 15 | Maine | $47,686 | $23 |
| 16 | Texas | $46,135 | $22 |
| 17 | Colorado | $46,070 | $22 |
| 18 | Illinois | $45,684 | $22 |
| 19 | Delaware | $45,084 | $22 |
| 20 | Oregon | $44,844 | $22 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | $136,247 | $65.50 | ||
| 2 | AbbVie | $105,895 | $50.91 | 1 |
| 3 | Arcadia.io | $100,281 | $48.21 | |
| 4 | Tucson Electric Power | $99,685 | $47.93 | |
| 5 | First Republic Bank | $94,550 | $45.46 | |
| 6 | PRA Group Careers | $93,457 | $44.93 | |
| 7 | Argo Group | $92,874 | $44.65 | 43 |
| 8 | AmeriHealth Caritas | $92,007 | $44.23 | 2 |
| 9 | Southwest Business Corporation | $90,859 | $43.68 | 7 |
| 10 | PacificSource Health Plans | $89,132 | $42.85 | |
| 11 | Erie Insurance | $87,973 | $42.29 | 11 |
| 12 | Crum & Forster | $82,315 | $39.57 | 7 |
| 13 | HNTB | $81,715 | $39.29 | |
| 14 | ExamWorks | $81,662 | $39.26 | |
| 15 | AIG | $81,199 | $39.04 | 105 |
| 16 | Veritas Health Services Inc | $79,568 | $38.25 | |
| 17 | Verisk Analytics | $78,236 | $37.61 | 1 |
| 18 | Chubb | $78,013 | $37.51 | 148 |
| 19 | Sun Life of Canada | $77,879 | $37.44 | 1 |
| 20 | Risk Strategies | $77,288 | $37.16 | 1 |
A claims analyst job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a claims analyst job description:
To find the right claims analyst for your business, consider trying out a few different recruiting strategies:
During your first interview to recruit claims analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the claims analyst position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
After that, you can create an onboarding schedule for a new claims analyst. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Hiring a claims analyst comes with both the one-time cost per hire and ongoing costs. The cost of recruiting claims analysts involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of claims analyst recruiting as well the ongoing costs of maintaining the new employee.
Claims analysts earn a median yearly salary is $48,398 a year in the US. However, if you're looking to find claims analysts for hire on a contract or per-project basis, hourly rates typically range between $13 and $37.