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Hospital insurance representative vs insurance broker

The differences between hospital insurance representatives and insurance brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance broker has an average salary of $94,006, which is higher than the $31,416 average annual salary of a hospital insurance representative.

The top three skills for a hospital insurance representative include HMO, medical terminology and EOB. The most important skills for an insurance broker are customer service, life insurance products, and lead generation.

Hospital insurance representative vs insurance broker overview

Hospital Insurance RepresentativeInsurance Broker
Yearly salary$31,416$94,006
Hourly rate$15.10$45.20
Growth rate-4%6%
Number of jobs39,94838,403
Job satisfaction--
Most common degreeBachelor's Degree, 36%Bachelor's Degree, 64%
Average age4446
Years of experience--

Hospital insurance representative vs insurance broker salary

Hospital insurance representatives and insurance brokers have different pay scales, as shown below.

Hospital Insurance RepresentativeInsurance Broker
Average salary$31,416$94,006
Salary rangeBetween $24,000 And $40,000Between $62,000 And $141,000
Highest paying City-Birmingham, AL
Highest paying state-Washington
Best paying company-Liberty Mutual Insurance
Best paying industry-Insurance

Differences between hospital insurance representative and insurance broker education

There are a few differences between a hospital insurance representative and an insurance broker in terms of educational background:

Hospital Insurance RepresentativeInsurance Broker
Most common degreeBachelor's Degree, 36%Bachelor's Degree, 64%
Most common majorHealth Care AdministrationBusiness
Most common collegeDuke UniversityUniversity of Pennsylvania

Hospital insurance representative vs insurance broker demographics

Here are the differences between hospital insurance representatives' and insurance brokers' demographics:

Hospital Insurance RepresentativeInsurance Broker
Average age4446
Gender ratioMale, 15.4% Female, 84.6%Male, 62.5% Female, 37.5%
Race ratioBlack or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.9% Asian, 4.9% White, 66.2% American Indian and Alaska Native, 0.1%
LGBT Percentage11%7%

Differences between hospital insurance representative and insurance broker duties and responsibilities

Hospital insurance representative example responsibilities.

  • Cold-Cal to generate leads for individual life and disability insurance and annuities.
  • Verify that each CPT code are paid correctly and according to fee schedule for any overpayment or underpayment ..
  • Provide financial counseling for patients and their families by explaining financial policies and providing available resources for alternative payment.
  • Fill out refund form with copy of all relate EOB's when credit balances are find on account.
  • Serve as a resource/ advocate to all employees regarding claims problem resolution, benefits explanations and EOB issues.
  • Collect patient demographic & insurance information via telephone for outpatient surgery and radiology.

Insurance broker example responsibilities.

  • Used consultative upselling techniques to provide leads
  • Work as an independent financial planner selling life insurance and annuities to individuals and families
  • Facilitate communications between doctors, hospitals, third party insurance companies and patients to obtain and verify patient billing information.
  • Deliver on the GEICO promise to customers by solving problems and giving competent insurance advice in a courteous and proficient manner.

Hospital insurance representative vs insurance broker skills

Common hospital insurance representative skills
  • HMO, 32%
  • Medical Terminology, 24%
  • EOB, 22%
  • CPT, 22%
Common insurance broker skills
  • Customer Service, 11%
  • Life Insurance Products, 8%
  • Lead Generation, 8%
  • Financial Resources, 8%
  • Annuities, 8%
  • Insurance Carriers, 6%

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