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NAICS 524292, industry

NAICS 524292: Pharmacy benefit management and other third party administration of insurance and pension funds

NAICS 524292 is the industry code for pharmacy benefit management and other third party administration of insurance and pension funds. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.

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What 524292 covers

This code covers pharmacy benefit managers and third party administrators that process claims and administer insurance and pension plans for others.

NAICS 2022 renamed this code to include pharmacy benefit management.

Included in this code

  • Pharmacy benefit managers
  • Third party administrators of health plans
  • Pension plan administrators
  • Workers' compensation claims administrators

Not this code

Businesses that use 524292

TPA for self funded plansPharmacy benefit managerRetirement plan administrator

Financing for this trade

TPAs use lines of credit and acquisition loans, valued on recurring administration fees. Lenders review contract retention.

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Is 524292 the right code for a third party administrator?

Yes, if you administer claims or benefits plans for employers, insurers or pension funds, or run a pharmacy benefit management business. Health insurers carrying risk use 524114. If your work overlaps, also read the definitions for 524114 (direct health and medical insurance carriers) and 524291 (claims adjusting), then choose the code that matches your largest source of revenue.

What is the SBA size standard for 524292?

The SBA size standard for 524292 is $46M in average annual receipts. SBA averages total gross receipts over the last five completed fiscal years and adds in any affiliates under common control. A third party administrator at or below that figure counts as small for SBA 7(a) and 504 loans and for federal small business contracts.

How do third party administrators finance growth?

Recurring administration fees support SBA 7(a) loans, term loans and acquisitions of other TPAs. Lenders review client retention, contract terms and compliance with privacy rules. Businesses within the $46M SBA size standard can also use SBA 7(a) loans of up to $5 million for working capital, equipment or a buyout, and SBA 504 loans for owner occupied buildings.

What does NAICS 524292 cover?

Pharmacy benefit management and other third party administration of insurance and pension funds. Industry level code in NAICS 2022, under 52 Finance and insurance, 524 Insurance carriers and related activities, 5242 Agencies, brokerages, and other insurance related activities, 52429 Other insurance related activities.

What financing do NAICS 524292 businesses use?

Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.

Where do I put NAICS 524292?

On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.