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

NAICS 524292 is “Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds”. 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.

Examples from the U.S. Census Bureau: 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; and Pension fund, third party administrative services.

Businesses mainly managing the portfolio assets (i.e., funds) of others are classified in Industry 523940, Portfolio Management and Investment Advice; initially underwriting health and medical insurance policies are classified in U.S. Industry 524114, Direct Health and Medical Insurance Carriers; and retailing prescription and nonprescription drugs and medicines are classified in Industry 456110, Pharmacies and Drug Retailers.

$45.5 million average annual receipts (average of the last five fiscal years), including affiliates. Source: 13 CFR 121.201, effective March 17, 2023.

SIC codes 6371 (Pension, Health, and Welfare Funds, part) and 6411 (Insurance Agents, Brokers, and Service, part), from the U.S. Census Bureau concordances (1987 SIC → 2002 NAICS, carried to 2022 NAICS).

524290 (Other insurance related activities) on Schedule C, line B, from the IRS list of principal business codes. The IRS code covers NAICS 524291–524298.

Federal agencies put a NAICS code on each solicitation in SAM.gov, and some states and cities use NAICS codes too. Add 524292 to your SAM.gov registration and to your bid alerts; PublicBeam emails new bids for the codes you choose every morning.