Industries › NAICS 524292
Industry · NAICS 524292 · sector 52 Finance and insurance
Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds
Federal contract obligations classified under NAICS 524292, the organisations that win them and the agencies that award them.
USAspending caveat. Figures are obligations reported by federal agencies to USAspending.gov, not payments. In USAspending's words: "An outlay occurs when federal money is actually paid out, not just promised to be paid ('obligated')." "Every agency has a Senior Accountable Official who must officially certify that the quarterly financial data submitted by their agency is accurate and complete." "If there are any discrepancies in procurement data, FPDS is the authoritative source." Contract data for the Department of Defense and the U.S. Army Corps of Engineers is published with a 90-day delay. Data loaded 30 Sep 2026.
Federal agencies obligated $1.1B in contracts classified under NAICS 524292, Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds, in FY2026, and $3.2B over the five fiscal years since FY2023; the industry ranks 98 of 526 on this site.
Obligations were up 54% on FY2025 ($729M), with $0 so far in FY2027.
The largest recipient organisations over FY2022–FY2025 were Triwest Healthcare Alliance Corp ($1.1B), Optumrx Administrative Services, LLC ($425M) and Signature Choice, LLC ($242M).
By place of performance, the most money went to AK, CO and VA.
Contract obligations by fiscal year
Compared with the largest industry FY2026
| Measure | This industry | Aircraft Manufacturing | All contracts |
|---|---|---|---|
| Contract obligations, FY2026 | $1.1B | $45B | $716B |
| Five-year total | $3.2B | $211B | $3.0T |
| Share of all contract obligations, five years | 0.1% | 7.1% | 100% |
Top contractors obligations, FY2022–FY2025
| # | Organisation | Obligations |
|---|---|---|
| 1 | Triwest Healthcare Alliance Corp | $1.1B |
| 2 | Optumrx Administrative Services, LLC | $425M |
| 3 | Signature Choice, LLC | $242M |
| 4 | Wisconsin Physicians Service Insurance Corp. | $207M |
| 5 | Signature Choice Ii, LLC | $202M |
| 6 | Optumserve Technology Services, Inc. | $131M |
| 7 | Torrent Technologies, Inc. | $114M |
| 8 | Serco Inc | $105M |
| 9 | Healthequity, Inc. | $65M |
| 10 | International Medical Group Inc | $33M |
| 11 | Taurus, LLC | $32M |
| 12 | Paragon Benefits, Inc. | $18M |
| 13 | Cahaba Safeguard Administrators LLC | $9.6M |
| 14 | The Ssi Group, LLC | $7.7M |
| 15 | Horizon Strategies LLC | $6.9M |
| 16 | Palisade-Heritage JV LLC | $6.8M |
| 17 | Seven Corners Inc | $6.1M |
| 18 | Consumer Capital Group Corp. | $5.9M |
| 19 | Reli Group Inc | $5.7M |
| 20 | Palisade Strategies, LLC | $5.4M |
| 21 | United Healthcare Services,inc. | $4.1M |
| 22 | Defense Collaboration Group LLC | $4.1M |
| 23 | Novitas Solutions, Inc. | $3.9M |
| 24 | Innovative Claim Solutions, Inc | $2.9M |
| 25 | Paragon Strategic Solutions Inc | $2.9M |
$147K among the top 40 went to recipients not shown.
Buying agencies $1.0M+ awards
Where the work is performed
Largest awards since FY2023
Other industries in sector 52: Finance and insurance
- 524114 Direct Health and Medical Insurance Carriers $177B
- 522390 Other Activities Related to Credit Intermediation $5.1B
- 523150 Investment Banking and Securities Intermediation $1.2B
- 522110 Commercial Banking $772M
- 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities $481M
- 524298 All Other Insurance Related Activities $238M
- 523920 Portfolio Management $231M
- 524210 Insurance Agencies and Brokerages $202M
- 523940 Portfolio Management and Investment Advice $54M
- 523910 Miscellaneous Intermediation $50M
- 525120 Health and Welfare Funds $41M
Questions and answers
How much does the federal government spend on NAICS 524292?
$1.1B in contract obligations classified under Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds in FY2026, $3.2B over the five fiscal years since FY2023. Obligations are commitments, not payments.
Who are the top contractors in Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds?
Triwest Healthcare Alliance Corp ($1.1B), Optumrx Administrative Services, LLC ($425M), Signature Choice, LLC ($242M), Wisconsin Physicians Service Insurance Corp. ($207M), Signature Choice Ii, LLC ($202M), by contract obligations over FY2022–FY2025.
Which agencies buy in this industry?
By the value of $1.0M-plus contracts since FY2023: Department of Veterans Affairs ($2.5B), Department of Homeland Security ($104M), Office of Personnel Management ($54M), Department of Health and Human Services ($36M), Department of Defense ($19M).
What is a NAICS code?
In USAspending's words: "NAICS stands for the North American Industrial Classification System. This 6-digit code tells you what industry the work falls into. Each contract record has a NAICS code." Assistance awards (grants, loans, direct payments) carry no NAICS code and are not counted here.
Provenance
Source: USAspending.gov API v2, spending by category (NAICS) by fiscal year, recipient cross-tabulation for FY2022–FY2025 and award search, loaded 30 Sep 2026. State figures come from each state's top-100 NAICS list, so small amounts in a state may be missing. See methodology.