NAICS 524292: Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds

National industry

SBA small business size standard: $45.5 million in average annual receipts

Code facts

Contract awards
103 In the last 12 months
Contract obligations
$725,532,322 In FY2025

NAICS codes and definitions come from the U.S. Census Bureau, size standards from the SBA and contract spending from SAM.gov/FPDS.

Contract obligations by fiscal year

Fiscal year Obligated
FY2027 To date $44,769,942
FY2026 $1,091,140,197
FY2025 $725,532,322
FY2024 $799,894,659
FY2023 $573,542,907

Top contractors by obligations

Rank Contractor Obligated, FY2026–FY2027 Share
1 Optumrx Administrative Services, LLC $508,721,848
2 Triwest Healthcare Alliance Corp $291,994,686
3 Signature Choice II, LLC $126,430,835
4 Ardent Group, LLC $92,676,865
5 Wisconsin Physicians Service Insurance Corp. $38,344,313
6 Healthequity, Inc. $26,804,316
7 Taurus, LLC $22,563,306
8 International Medical Group Inc. $12,608,211
9 Consumer Capital Group Corp. $11,050,000
10 Receivia, Inc. $9,160,199

Top funding agencies by obligations

Rank Agency Obligated, FY2026–FY2027 Share
1 Department of Veterans Affairs $942,329,679
2 Department of Homeland Security $110,631,798
3 Defense Health Agency Department of Defense $38,344,313
4 Office of Personnel Management $22,999,488
5 Peace Corps $7,705,829
6 Corporation for National and Community Service $4,902,382
7 Department of the Navy Department of Defense $3,518,151
8 Department of Energy $1,502,760
9 Department of the Army Department of Defense $931,382
10 Department of Health and Human Services $876,352

Contract obligations by state

Rank Place of performance Obligated, last 12 months Share
1 Colorado $601,907,235
2 Alaska $291,934,140
3 Virginia $126,693,556
4 Wisconsin $29,256,330
5 Utah $26,351,873
6 Florida $22,759,285
7 Indiana $12,608,211
8 Illinois $11,050,000
9 Pennsylvania $3,520,106
10 California $1,806,342
11 Georgia $1,623,048
12 Washington $1,390,508
13 Kentucky $1,106,792
14 New Jersey $718,028
15 Alabama $173,900
16 Texas $144,376
17 Delaware $130,000
18 Oregon $128,131
19 North Dakota $60,000
20 North Carolina $30,218
21 South Carolina $26,241
22 South Dakota $18,039
Show all 22

Shares are of everything obligated under NAICS 524292 in the last 12 months before deobligations, including work performed abroad or with no place of performance on record.

Contract opportunities

Notice Posted Due
FY27 virtual pharmacy services Award Notice · Veterans Integrated Service Network 6 (VHA) —
Q517--36C25527Q0015 | Pharmacy Benefits Services | Wichita | Pre-Solicitation · Veterans Integrated Service Network 15 (VHA)
Sources Sought / Request for Information — BENEFEDS Federal Benefits Enrollment and Premium Administration Services (Follow-On) Pre-Solicitation · Office of Personnel Management
Q517--pharmacy benefits services | wichita | Pre-Solicitation · Veterans Integrated Service Network 15 (VHA)
PBM_Support_Extension Limited / Sole Source Justification · Immigration and Customs Enforcement —
Pharmacy Benefit Management (PBM) Support Extension Award Notice · Immigration and Customs Enforcement —
TRICARE Medicare Eligible Program Second Generation (TMEP2) Solicitation · Defense Health Agency · HT940226R0001
Notice of Intent PBM Special Notice · Immigration and Customs Enforcement
Q517--Pharmacy Benefits Management Pre-Solicitation · Veterans Integrated Service Network 6 (VHA)
R710--Third Party Billing Pre-Solicitation · VA Technology Acquisition Center
WTCHP Pharmacy Benefits Manager Services Pre-Solicitation · CDC Office of Acquisition Services
ASPE Health Benefits Plan Program Award Notice · Office of Acquisition Management —
Health Care Benefits Services Pre-Solicitation · Peace Corps
R710--Third Party Billing Bridge Contract Award Notice · VA Technology Acquisition Center —
Pharmacy First Fill Services - VISN 4 Solicitation · Veterans Integrated Service Network 4 (VHA)
Flexible Spending Account (FSA) Request for Information (RFI) Pre-Solicitation · Division of Acquisition and Cooperative Support
Meal Vouchers Cards service for the U. S. Embassy Brasilia, Brazil Special Notice · US Embassy Brasilia (DOS)
R710--Third Party Billing Bridge Contract (VA-26-00040654) Special Notice · VA Technology Acquisition Center
Q517--WSNC - Pharmacy Contingency Program Base Plus Four Pre-Solicitation · Veterans Integrated Service Network 20 (VHA)
Q517--Pharmacy Emergent First Fill SF Award Notice · Veterans Integrated Service Network 23 (VHA) —
Q517--Pharmacy Emergent First Fill at the SFVAHCS Solicitation · Veterans Integrated Service Network 23 (VHA)
Q517--Sources Sourght - Pharmacy First Fill Services for the Minneapolis VA Health Care System Pre-Solicitation · Veterans Integrated Service Network 23 (VHA)
TRICARE Medicare Eligible Program (TMEP2) Industry Forum Special Notice · Defense Health Agency
Q517--FY26: VISN 8 Pharmacy Emergent First Fill Prescription Services Solicitation · Veterans Integrated Service Network 8 (VHA)
Meal Vouchers Cards service for the U. S. Embassy Brasilia, Brazil Solicitation · US Embassy Brasilia (DOS) · 19BR2526R0002
TRICARE Medicare Eligible Program Second Generation (TMEP2) Draft RFP Special Notice · Defense Health Agency
Meal Vouchers Cards service for the U. S. Embassy Brasilia, Brazil Pre-Solicitation · US Embassy Brasilia (DOS) · 19BR2526R0002
R799--1st Fill Pharmacy Services WSNC Award Notice · Veterans Integrated Service Network 17 (VHA) —
World Trade Center Health Program Third-Party Administrator (TPA) Award Notice · CDC Office of Acquisition Services · 75D30126C20710 —
Q517--First Fill Pharmacy Benefits Management Award Notice · Veterans Integrated Service Network 16 (VHA) —
6505--Pharmacy Emergent First Fill SDVOSB Set Aside Sioux Falls VA Health Care System and associated CBOCs Pre-Solicitation · Veterans Integrated Service Network 23 (VHA)
TRICARE Dental Program 7/Third Party Administrator Industry Forum Special Notice · Defense Health Agency
Meal Vouchers Cards service for the U. S. Embassy Brasilia, Brazil Pre-Solicitation · US Embassy Brasilia (DOS) · 19BR2525R0008
Q517--Pharmavy Benefit Management Solicitation · Veterans Integrated Service Network 16 (VHA) · 36C25625Q1538
Q517--Pharmavy Benefit Management Pre-Solicitation · Veterans Integrated Service Network 16 (VHA) · 36C25625Q1538
Federal Flexible Spending Account Program (FSAFEDS) Award Notice · Office of Personnel Management · 24322625D0002 —
Accident and Sickness Program for Exchanges (ASPE) Health Benefits Plan Program Solicitation · Office of Acquisition Management
Revenue Cycle Management for Quentin N Burdick Memorial Health Care Facility in Belcourt, ND Pre-Solicitation · Indian Health Service
Q517--Pharmacy Benefit Management First Fill Services at the CIVAHCS Award Notice · Veterans Integrated Service Network 23 (VHA) · 36C26325D0074 —
Q517--Pharmacy First Fill VISN12 POP: 8/1/2025 - 7/31/2026 Award Notice · Veterans Integrated Service Network 12 (VHA) —
Q517--Notice of Intent to Sole Source Pharmacy First Fill Services for VISN 12 Special Notice · Veterans Integrated Service Network 12 (VHA)
Retirement Support Services Pre-Solicitation · Internal Revenue Service
Q517--Pharmacy Benefit Management First Fill Services at the CIVAHCS Solicitation · Veterans Integrated Service Network 23 (VHA) · 36C26325Q0772
TRICARE Medicare Eligible Program Second Generation (TMEP2) Pre-Solicitation · Defense Health Agency · HT9402-25-RFI-0218
Q517--Pharmacy Benefit Management First Fill Services Pre-Solicitation · Veterans Integrated Service Network 23 (VHA)
Federal Flexible Spending Account Program (FSAFEDS) Solicitation · Office of Personnel Management · 24322625R0004
CDC world trade center (WTC) health program pharmacy benefits manager Pre-Solicitation · CDC Office of Acquisition Services
Benefits Enrollment and Premium Administration Services for BENEFEDS Program Pre-Solicitation · Office of Personnel Management
Q517--Intent to Sole Source Fill First Pharmacy Services Special Notice · Veterans Integrated Service Network 6 (VHA)
World Trade Center Health Program Third-Party Administrator (TPA) Solicitation · CDC Office of Acquisition Services · 75D301-25-R-73216
Show 40 more

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Definition

This U.S. industry comprises establishments primarily engaged in providing pharmacy benefit management (PBM) services and other third party administration services of insurance and pension funds, such as claims processing and other administrative services to insurance carriers, employee benefit plans, and self-insurance funds.

Illustrative examples

  • Claims processing services, insurance, third-party
  • Employee benefit plans, third-party administrative processing services
  • Insurance claims processing services, third party
  • Insurance fund, third party administrative services (except claims adjusting only)
  • Insurance plan administrative services (except claims adjusting only), third-party
  • Pension fund, third party administrative services

Quick answers

What is NAICS 524292?

NAICS 524292 is Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds, a national industry in NAICS 52, Finance and Insurance.

What is the NAICS code for insurance claims processing services, third party?

The NAICS code for insurance claims processing services, third party is 524292, Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds.

What is the NAICS code for pension fund, third party administrative services?

The NAICS code for pension fund, third party administrative services is 524292, Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds.

What is the NAICS code for claims processing services, insurance, third-party?

The NAICS code for claims processing services, insurance, third-party is 524292, Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds.

How much do federal agencies spend under NAICS 524292?

Federal contracts under NAICS 524292 obligated $725,532,322 in fiscal year 2025 and $3,234,880,027 in fiscal years 2023 through 2027.

Who are the largest contractors under NAICS 524292?

The contractors with the most obligated under NAICS 524292 in fiscal years 2026 and 2027 are Optumrx Administrative Services, LLC ($508,721,848); Triwest Healthcare Alliance Corp ($291,994,686); and Signature Choice II, LLC ($126,430,835).

Which agencies buy the most under NAICS 524292?

The agencies that obligated the most under NAICS 524292 in fiscal years 2026 and 2027 are Department of Veterans Affairs ($942,329,679), Department of Homeland Security ($110,631,798) and Defense Health Agency ($38,344,313).

Which PSC codes are used with NAICS 524292?

The PSC codes with the most obligated under NAICS 524292 in fiscal years 2026 and 2027 are R408 Program Management/Support Services, Q999 Other Medical Services and R499 Other Professional Services.

Where is the work under NAICS 524292 performed?

By place of performance, the states with the most contract obligations under NAICS 524292 over the last 12 months are Colorado ($601,907,235), Alaska ($291,934,140) and Virginia ($126,693,556).

What is the latest contract opportunity under NAICS 524292?

The latest contract opportunity under NAICS 524292 is FY27 virtual pharmacy services, award notice from Veterans Integrated Service Network 6 (VHA), posted October 20, 2026.

On GovTribe

See everything under NAICS 524292

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