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The differences between insurance collectors and collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an insurance collector and a collector. Additionally, an insurance collector has an average salary of $39,463, which is higher than the $34,872 average annual salary of a collector.
The top three skills for an insurance collector include patients, medical billing and healthcare. The most important skills for a collector are patients, customer service, and payment arrangements.
| Insurance Collector | Collector | |
| Yearly salary | $39,463 | $34,872 |
| Hourly rate | $18.97 | $16.77 |
| Growth rate | -8% | -8% |
| Number of jobs | 46,897 | 23,948 |
| Job satisfaction | - | - |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 31% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
An insurance collector is responsible for collecting and managing insurance payments. They need to generate funds through collecting bills, adhere to ethical standards, handle patients' claims, and complete other clerical work. They usually prepare and submit a member's bill for insurance so that the patient can be sure that there will be no delay in getting their claim.
Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.
Insurance collectors and collectors have different pay scales, as shown below.
| Insurance Collector | Collector | |
| Average salary | $39,463 | $34,872 |
| Salary range | Between $33,000 And $46,000 | Between $27,000 And $44,000 |
| Highest paying City | - | Los Angeles, CA |
| Highest paying state | - | Alaska |
| Best paying company | - | Uline |
| Best paying industry | - | Finance |
There are a few differences between an insurance collector and a collector in terms of educational background:
| Insurance Collector | Collector | |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 31% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between insurance collectors' and collectors' demographics:
| Insurance Collector | Collector | |
| Average age | 46 | 46 |
| Gender ratio | Male, 12.4% Female, 87.6% | Male, 36.0% Female, 64.0% |
| Race ratio | Black or African American, 13.4% Unknown, 3.9% Hispanic or Latino, 22.6% Asian, 3.3% White, 56.4% American Indian and Alaska Native, 0.5% | Black or African American, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |