How much does a health insurance agent earn?

Health insurance agents are typically paid on a commission basis, which means that they earn a percentage of the premiums paid by their clients. The exact percentage will vary depending on the insurance company and the agent's level of experience, but it is typically in the range of 10% to 20%.

In addition to commissions, health insurance agents may also earn bonuses based on their sales performance. These bonuses can be significant, and some agents can earn more in bonuses than they do in commissions.

Finally, health insurance agents may also be able to earn income from other sources, such as fees for consulting services or commissions on additional products that they sell, such as dental insurance or long-term care insurance.

According to the U.S. Bureau of Labor Statistics, the median annual income for health insurance agents was $49,740 in May 2020. However, the top 10% of earners made more than $92,860, while the bottom 10% earned less than $27,520.

Overall, the earning potential for health insurance agents is quite good. In the above study done by the U.S. Bureau of Labor Statistics, they have also projected employment of health insurance agents to grow 5% over the next decade. This is faster than the average for all occupations and is due to increased demand for health insurance coverage, driven by factors such as aging population, health issues faced by people and expansion of Medicaid in some states.