Hourly wage for Insurance Verification Specialist I

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$22	$2	$0	$0
Average	$20	$2	$0	$0
25th Percentile	$18	$2	$0	$0

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$22	$2	$0	$0
Average	$20	$2	$0	$0
25th Percentile	$18	$2	$0	$0

Levels	Salary
Entry Level Insurance Verification Specialist I	$40,239
Intermediate Level Insurance Verification Specialist I	$40,335
Senior Level Insurance Verification Specialist I	$41,618
Specialist Level Insurance Verification Specialist I	$43,457
Expert Level Insurance Verification Specialist I	$43,589

Year	Average Annual Salary
2020	View More
2021	View More
2022	View More
2023	$49,059
2024	$48,832
2025	$47,661
2026	View More

Degree Level	% of user with this level of education
High School	57.5%
Associates	21.7%
Bachelors	13.3%
Masters	7.5%

FAQ about Insurance Verification Specialist I

1. What are the responsibilities of Insurance Verification Specialist I?

The Insurance Verification Specialist I gathers pertinent information from patients, insurance carriers, financial counselors, and other staff to confirm the patient's financial obligations for services. Processes insurance pre-verification for hospital admissions or specialty service office visits. Being an Insurance Verification Specialist I verifies insurance coverage and obtains required authorizations when necessary. Acts as a liaison between hospitals, clinical staff, health plans, providers, and patients to process referrals. In addition, Insurance Verification Specialist I documents referrals, communications, actions, and other data in an information management system. Generates and distributes all applicable forms, notifications, and paperwork. Requires a high school diploma. Typically reports to a supervisor. Being an Insurance Verification Specialist I works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. Working as an Insurance Verification Specialist I typically requires 1-3 years of related experience.

2. What are the skills of Insurance Verification Specialist I

Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.)

Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.

2.)

Managed Care: Managed Care is a health care delivery system organized to manage cost, utilization, and quality. Also known as managed healthcare.

3.)

Health Insurance: Health insurance is a type of insurance coverage that pays for health and medical expenses. Health insurance covers some or all of the costs of routine care, emergency care, and treatment for chronic illnesses.

See More Skills

Entry Level	3%
Mid Level	2%
Senior Level	1%
Top Level	5%
Experienced	6%

Core Compensation
Core Compensation	Median	% of Total
Base Salary	$41,290	68.3%
Bonus	$0	0.0%
Value of Benefits
Core Compensation	Median	% of Total
Social Security	$3,159	5.2%
401K/403B	$2,023	3.3%
Disability	$661	1.1%
Healthcare	$6,371	10.5%
Pension	$1,734	2.9%
Time Off	$5,241	8.7%
Total Compensation	$60,478	100%

Hourly Wage for Insurance Verification Specialist I Salary in the United States