Think you know how many people it takes to keep America insured? The health insurance industry isn't just a monolithic corporate entity; it's a massive employer where you'll find over 312,450 dedicated professionals as of mid-2023, with the sector showing robust growth by adding 9,600 jobs from 2021 to 2022 alone.
Key Takeaways
- As of May 2023, the health insurance carriers industry (NAICS 524140) employed 312,450 workers in the United States, marking a 2.1% increase from 2022
- In 2022, total employment in the U.S. health insurance sector reached 1.2 million when including related administrative services
- Health insurance industry employment stood at 289,700 full-time equivalent jobs in 2021 across major carriers
- From 2021 to 2022, health insurance employment grew by 3.2% adding 9,600 jobs
- BLS projects health insurance carriers employment to grow 5.1% from 2022 to 2032, adding 15,900 jobs
- Between 2019 and 2023, the sector saw 2.8% annual employment growth post-pandemic recovery
- 39.2% of workforce aged 25-34 in 2023
- Women comprised 58.7% of health insurance industry employees in 2022
- Average age of employees was 44.3 years in May 2023 BLS data
- Claims adjusters and examiners: 45,200 employed in 2023
- Insurance underwriters: 28,900 jobs in health insurance 2022
- Customer service representatives: 67,400 in health plans 2023
- Average hourly wage for health insurance workers was $38.42 in May 2023
- Median annual salary for claims adjusters in health insurance: $72,980 in 2022
- Underwriters earned average $82,510 yearly in NAICS 524140 2023
The health insurance industry employs over 315,000 people and continues to grow steadily.
Compensation and Benefits
- Average hourly wage for health insurance workers was $38.42 in May 2023
- Median annual salary for claims adjusters in health insurance: $72,980 in 2022
- Underwriters earned average $82,510 yearly in NAICS 524140 2023
- Customer service reps averaged $19.85/hour or $41,290/year 2022
- Actuaries in health plans median pay $113,990 in 2023
- Top 10% of health insurance workers earned over $120,000 annually 2022
- Benefits costs averaged 32% of total compensation in 2023
- Entry-level sales agents earned $48,220 median 2022
- Billing clerks average wage $20.14/hour in 2023
- Management annual pay averaged $148,320 in health insurance 2022
- Health insurance industry offered average employer health benefits value $15,200/year 2023
- Overtime pay averaged 4.2% of earnings in admin roles 2022
- Bonuses comprised 7.8% of total comp for executives 2023
- 85% of workers received health insurance coverage from employer 2022
- Retirement contributions averaged 5.1% match in 2023 plans
- Paid leave benefits covered 92% of full-time employees 2022
- Commission structures added $12,400 avg to sales pay 2023
- Wage growth 4.1% YoY in health insurance 2022-2023
- Bottom 10% earned under $32,000 annually 2022 data
- Stock options valued at avg $8,900 for mid-level 2023
- Remote workers premium pay averaged 2.3% higher 2022
- Gender pay gap 18% favoring males in 2023 BLS
- 401(k) participation rate 78% among eligible 2022
- Tuition reimbursement averaged $5,250 per employee 2023
- Total comp for actuaries reached $140,000 including perks 2022
Compensation and Benefits Interpretation
It appears that within the health insurance industry, the actuary calculating your premium is earning a comfortable salary with excellent benefits, while the customer service representative explaining why it wasn't covered might be struggling to afford their own.
Demographic Breakdown
- 39.2% of workforce aged 25-34 in 2023
- Women comprised 58.7% of health insurance industry employees in 2022
- Average age of employees was 44.3 years in May 2023 BLS data
- 62% of workers held bachelor's degrees or higher in 2022
- Racial breakdown: 67.4% White, 12.1% Black, 9.8% Asian in 2023
- 15.3% of employees were Hispanic or Latino in 2022 QCEW
- Veterans represented 6.2% of the health insurance workforce in 2023
- 28.4% part-time workers in administrative roles 2022
- Gen Z (under 25) made up 9.1% of employees in 2023
- 71% urban residency among employees per 2022 census
- Disability rate among workers was 4.7% in 2023 BLS survey
- 52% female in management positions 2023
- Median tenure 4.2 years for non-managers in 2022
- 18-24 year olds: 7.8% of total employment 2023
- Asian employees grew to 11.2% from 10.1% 2020-2023
- 3.9% union membership rate in private health insurance 2022
- Baby Boomers (55+) comprised 22.6% in 2023
- High school graduates only: 14.5% of workforce 2022
- Immigrants accounted for 16.8% of employees 2023 ACS data
- LGBTQ+ identification estimated at 7.1% in industry surveys 2023
- 65+ workers: 4.3% despite retirement trends 2022
- Male-female ratio 42:58 in claims roles 2023
- Associate degree holders: 21.7% of staff 2022
- Rural employees: 12.4% of total 2023
- Single parents: 9.2% demographic segment 2022
Demographic Breakdown Interpretation
The health insurance workforce is a surprisingly young, educated, and female-majority field that is gradually diversifying, yet it remains stubbornly urban, non-unionized, and characterized by relatively short job tenures, painting a picture of an industry in a cautious demographic transition.
Employment Growth and Projections
- From 2021 to 2022, health insurance employment grew by 3.2% adding 9,600 jobs
- BLS projects health insurance carriers employment to grow 5.1% from 2022 to 2032, adding 15,900 jobs
- Between 2019 and 2023, the sector saw 2.8% annual employment growth post-pandemic recovery
- Health insurance jobs increased by 12,300 or 4.1% in 2022 alone
- Projected 2023-2033 growth for NAICS 524140 is 6.2%, faster than average
- From Q1 2022 to Q1 2023, employment rose 2.4% or 7,200 positions
- Post-ACA, health insurance employment expanded 15.7% from 2010-2020
- 2024 forecast shows 3.5% growth adding 11,000 jobs due to aging population
- Medicare enrollment growth drove 4.8% employment increase 2021-2023
- Commercial health insurance jobs grew 1.9% YoY in 2023
- BLS data indicates 2.7% growth in health insurance occupations 2022-2023
- From 2020 low, employment rebounded 8.5% by 2023
- Projected addition of 18,400 jobs by 2031 in insurance adjusters and examiners
- Health plan enrollment surge led to 5.2% staff growth in 2023
- Long-term projection: 7.3% growth to 335,000 jobs by 2032
- Regional growth highest in South at 4.1% 2022-2023
- Telehealth integration boosted admin employment 3.9% in 2023
- Medicaid expansion states saw 6.7% employment growth 2014-2022
- 2022-2032 outlook: 4.5% growth in customer service reps for health insurance
- Industry employment CAGR 2.1% from 2018-2023
- Post-recession recovery added 45,000 jobs 2012-2022
- 2023 saw 1.8% quarterly growth averaging 5,400 new jobs
- AI automation projected to moderate growth to 3.8% 2024-2028
- Enrollment in ACA exchanges drove 2.9% job growth 2022-2023
- 58% of new jobs 2022-2023 were in urban health insurance hubs
Employment Growth and Projections Interpretation
The health insurance industry is hiring people at a brisk clip to handle the paperwork generated by the rest of us trying to get healthy.
Occupational Distribution
- Claims adjusters and examiners: 45,200 employed in 2023
- Insurance underwriters: 28,900 jobs in health insurance 2022
- Customer service representatives: 67,400 in health plans 2023
- Insurance sales agents specialized in health: 12,100 employed 2022
- Medical records specialists: 21,500 in insurance firms 2023
- Actuaries in health insurance: 6,200 positions 2022
- Billing and posting clerks: 34,800 jobs 2023
- General office clerks: 18,900 in NAICS 524140 2022
- Software developers for claims systems: 9,400 employed 2023
- Compliance officers: 7,800 roles in health insurance 2022
- Human resources specialists: 14,200 in carriers 2023
- Financial analysts in health plans: 8,500 jobs 2022
- Data entry keyers: 11,300 positions 2023
- Management analysts: 5,900 in insurance admin 2022
- Lawyers specializing in insurance: 4,200 employed 2023
- IT support specialists: 12,700 roles 2022
- Accountants and auditors: 22,400 in health insurance 2023
- Medical secretaries: 16,100 jobs 2022
- Top executives (general/managers): 19,500 positions 2023
- Training specialists: 6,800 in workforce development 2022
Occupational Distribution Interpretation
The health insurance industry employs a veritable army of 333,100 people, which means for every one doctor healing a patient, there are roughly seven people somewhere explaining why it's not covered, calculating the cost of covering it, or taking a call about why it's not covered.
Total Employment and Size
- As of May 2023, the health insurance carriers industry (NAICS 524140) employed 312,450 workers in the United States, marking a 2.1% increase from 2022
- In 2022, total employment in the U.S. health insurance sector reached 1.2 million when including related administrative services
- Health insurance industry employment stood at 289,700 full-time equivalent jobs in 2021 across major carriers
- By end of 2023, approximately 315,000 individuals were directly employed by health insurance carriers nationwide
- The sector employed 1,456,200 workers in insurance carriers overall, with health comprising 21.5% in Q4 2022
- In 2020, health insurance employment totaled 305,120 amid pandemic disruptions
- U.S. health insurance firms reported 298,450 payroll employees in the first quarter of 2023
- Total headcount in top 10 health insurers was 456,780 in 2022 filings
- Employment in health insurance administration reached 142,300 in 2022 per QCEW data
- Nationwide, health insurance sector jobs numbered 310,200 as of BLS Occupational Employment Statistics May 2022
- In fiscal year 2021, Medicare Advantage plans employed 278,900 staff collectively
- Health insurance employment in the U.S. was 307,500 in December 2022 per CES data
- By 2023, the industry supported 1.1 million jobs including brokers and agents
- Q1 2023 saw 314,100 employees in NAICS 524140 establishments
- Annual average employment for health insurance carriers was 309,820 in 2022
- In 2019 pre-pandemic, sector employment peaked at 322,450 workers
- Health insurers employed 295,600 in 2021 despite enrollment surges
- Total payroll in health insurance reached 311,200 jobs by mid-2023
- As per SEC filings, UnitedHealth Group alone had 399,000 employees in health insurance segments in 2022
- Industry-wide employment averaged 308,100 across 2022 quarters
- In 2023, Elevance Health reported 102,700 employees primarily in health insurance
- Humana Inc. employed 67,100 in health insurance operations end of 2022
- CVS Health's Aetna division had 73,000 staff in 2022 health insurance roles
- Centene Corporation's workforce totaled 74,100 in Medicaid health insurance in 2022
- Molina Healthcare employed 15,500 in health plan services 2022
- Total employment in health insurance TPAs was 189,400 in 2022
- Kaiser Permanente health plans employed 225,000 in insurance-related roles 2022
- Blue Cross Blue Shield affiliates collectively employed 220,000 in 2022
- Employment in health insurance claims processing centers was 112,500 in 2023
- U.S. health insurance industry employment totaled 1,025,000 including auxiliaries in 2022 NAICS data
Total Employment and Size Interpretation
With over a million souls toiling in its vast administrative labyrinth, the health insurance industry appears to be the one sector whose employment figures are nearly as complex and redundant as its own billing codes.
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