Do you want to know how many jobs are available in Accident and Health Insurance sector in the US.
Then this article is for you.
There are 563,366 people employed in the Health & Medical Insurance industry in the US as of 2023.
That’s not all, keep reading…
How Many Jobs are Available in Accident and Health Insurance
As said earlier according to Ibisword.com, there are 563,366 people employed in the Health & Medical Insurance industry in the US as of 2023.
This figure gives the estimated number of jobs available in Accident and Health Insurance industry.
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Best Paying Jobs In Accident and Health Insurance
- Insurance Sales Agent
- Licensed Life Insurance Agent
- Sales Agent – Life and Health Advisor
- Remote Insurance Agent
- Agency Sales Representative
- Licensed Medicare Sales Agent
- Insurance Billing Specialist
- Coding Specialist
- Insurance Benefits Advisor
- Medical biller
- Insurance Underwriter
1. Insurance Billing Specialist
Insurance professionals who specialize in billing services can be employed by insurance companies or medical facilities, such as hospitals.
Their responsibilities include advising patients, creating bills, verifying patient information, handling insurance claims, addressing billing inquiries, and ensuring that patients pay the appropriate amount for medical insurance.
This position typically pays an average annual salary of $30,000.
2. Coding Specialist
Coding specialists are responsible for creating medical codes that provide a comprehensive overview of a patient’s medical records and visits.
These codes are utilized by medical billers while submitting claims to health insurance companies.
The codes used by specialists include details about the patient’s symptoms, diagnosis, therapies, prescribed medications, surgeries, and other medical procedures.
To ensure that a patient’s visit summary and other vital information are accurately translated to avoid discrepancies that could result in insurance issues, they work closely with doctors, nurses, medical assistants, and other medical billers.
The average salary for coding specialists is $60,097 per year.
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3. Insurance Benefits Advisor
Insurance benefits advisors are responsible for assisting clients in signing new insurance policies or updating their current ones.
They provide guidance on the available options and features of different insurance plans. On average, they earn approximately $55,000 annually.
4. Medical biller
Medical billers, who are also known as medical coders, are responsible for translating medical documentation into specific codes that are utilized to generate invoices for insurance claims.
Serving as the intermediary between healthcare providers, insurance companies, and patients, they possess comprehensive knowledge regarding health insurance and various medical procedures.
Some common duties include reviewing patient bills, arranging payment plans, and appealing rejected insurance claims.
On average, medical billers earn an annual salary of $46,660.
5. Insurance Underwriter
Insurance underwriters are responsible for reviewing insurance applications to assess the level of risk involved.
To determine risk, they meticulously examine various types of insurance-related information and assess client requests.
These professionals also determine the optimal policies for insurance holders by assessing premium amounts and coverage limits.
Salaries for insurance underwriters can reach as high as $130,000 annually, although the average salary for most individuals in this field is approximately $115,959 per year.
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Is Accident and Health Insurance a Good Career Path?
Accident and health insurance presents a promising career option with a diverse range of job prospects for aspiring professionals.
With a relevant degree, recent graduates can secure numerous opportunities in the insurance sector, which has a significant demand for skilled individuals.
Apart from the abundance of job openings, a career in accident and health insurance offers job stability and ample avenues for career advancement and progress.
Who can work in an insurance company?
Currently, the standard requirement for insurance jobs in USA is a bachelor’s degree with a major in insurance, statistics, or mathematics.
However, many companies are now hiring graduates from various disciplines, although they still prioritize those with a BSc in insurance.
How big is the U.S. health insurance industry?
Health & Medical Insurance in the US – Market Size 2004–2029
| $1.2tr | Health & Medical Insurance in the US Market Size in 2023 |
|---|---|
| -0.7% | Health & Medical Insurance in the US Market Size Growth in 2023 |
| 2.3% | Health & Medical Insurance in the US Annualized Market Size Growth 2018–2023 |
What is employment growth in the Health & Medical Insurance industry in the US in 2023?
On average, the number of individuals employed in the Health & Medical Insurance sector in the US has experienced a 0.5% increase over the period spanning from 2018 to 2023.
Best Jobs In Insurance
- Loan processor.
- Insurance adjuster.
- Insurance agent.
- I nsurance broker.
- Loss control consultant. National average salary: $75,486 per year.
- Underwriter. National average salary: $79,235 per year.
- Actuary. National average salary: $115,221 per year.
- Risk manager. National average salary: $118,601 per year.
What do you call someone who works at an insurance company?
If you enjoy interacting with people, then working as an insurance agent could be a fulfilling career choice for you.
The role of an insurance agent involves selling insurance policies to individuals.
Typically, a high school diploma is the minimum requirement to become an agent, but some agent jobs may require a college degree.
What skills do you need to work in insurance?
Top 7 skills you need to get into Insurance
- Customer service.
- Numeracy.
- Organisation.
- Problem-solving.
- Attention to detail.
- Analytical skills.
- Communication.
Conclusion
Accident and health insurance presents a promising career path, providing numerous advantages such as diverse career options with attractive remuneration packages.
However, to enhance your likelihood of securing a top-notch job in this industry, obtaining a degree in finance, accounting or a related discipline is crucial.
Additionally, obtaining relevant professional certifications will further augment your prospects.
This is all we have for “How Many Jobs are Available in Accident and Health Insurance”
You can also read: How Many Jobs Are Available In Speciality Insurers (80,000)?
