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

Official 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.

Source: US Census Bureau, 2022 NAICS descriptions.

When to use a different code

Census classifies these close-sounding activities somewhere else. Businesses mainly engaged in:

• 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.
• Retailing prescription and nonprescription drugs and medicines are classified in Industry 456110, Pharmacies and Drug Retailers.
• Providing insurance actuarial services are classified in U.S. Industry 524298, All Other Insurance Related Activities.
• Providing actuarial consulting services are classified in U.S. Industry 541612, Human Resources Consulting Services.

Source: US Census Bureau, 2022 NAICS cross-references.

Activities listed under 524292

The Census index assigns these 7 activities to this code. If your business matches one, this is your code.

• 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
• Pharmacy Benefit Management (PBM) services

Source: US Census Bureau, 2022 NAICS index file.

SBA size standard for 524292

To count as a small business for SBA loans and federal contracts under NAICS 524292, your business (including affiliates) must not exceed $45.5 million in average annual receipts. Check your business.

Source: SBA table of size standards, effective March 17, 2023.

Closest UK SIC 2007 codes

There is no official one-to-one link between NAICS and UK SIC. These codes share the same international class (ISIC Rev. 4: 6629), so treat them as a starting point and check the definition.

• 66290Other activities auxiliary to insurance and pension fundingUK SIC

Built from Census concordances 2022→2017 NAICS and 2017 NAICS→ISIC Rev. 4.

Similar codes to compare

• 524291Claims Adjusting
• 524298All Other Insurance Related Activities