Federal award data
NAICS 524292 Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds: federal contract awards
How competitive are federal pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds contracts (NAICS 524292)?
Federal agencies signed 712 new awards of $25,000 or more under NAICS 524292 (Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds) in FY2016-FY2026, worth $5.9B. 84% were competed, and competed awards drew a median of 1 offer; 78% got a single offer. The Department of Veterans Affairs awarded the most (49%).
USAspending.gov data, FY2016-FY2026. Updated .
- New awards
- 712
- Obligated
- $5.9B
- Median award
- $150,628
- Median offers
- 1
- Agencies signed about 64 new NAICS 524292 awards a year from FY2016 to FY2025, 77 of them in FY2025 (up 13% from FY2016).
- SBA's small business size standard for NAICS 524292 is $45.5 million in average annual receipts (SBA table effective March 17, 2023).
- The median award was $150,628; 64 different companies won at least one award.
- 41% of awards that report a set-aside were set aside for small businesses or a socioeconomic program, most often Service-disabled veteran-owned (SDVOSB).
- 50 of these awards reach their potential end date (all options exercised) in the next 12 months, so most of that work comes up for re-bid.
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Awards per fiscal year
New NAICS 524292 awards of $25,000 or more by the fiscal year they were signed (October to September), with the amount obligated on them to date.
| Fiscal year | Awards | Obligated |
|---|---|---|
| FY2016 | 68 | $222M |
| FY2017 | 59 | $264M |
| FY2018 | 41 | $330M |
| FY2019 | 49 | $501M |
| FY2020 | 50 | $387M |
| FY2021 | 68 | $737M |
| FY2022 | 71 | $508M |
| FY2023 | 71 | $410M |
| FY2024 | 85 | $664M |
| FY2025 | 77 | $814M |
| FY2026* | 73 | $1.1B |
* FY2026 is still filling in: the Department of Defense reports its awards 90 days late. Full years run to FY2025.
How competitive are these contracts?
84% of awards were competed. Competed awards drew a median of 1 offer, against 3 offers across all federal contracts; 78% got a single offer.
| Offers received | Competed awards |
|---|---|
| 1 (single offer) | 286 (78%) |
| 2 | 43 (12%) |
| 3-4 | 27 (7%) |
| 5-9 | 6 (2%) |
| 10+ | 4 (1%) |
366 competed awards with an offer count. Not competed: 114 awards (sole source, follow-on or not available for competition).
Set-asides
41% of the 270 awards that report a set-aside were reserved for small businesses or a socioeconomic program.
| Set-aside | Awards |
|---|---|
| No set-aside | 158 (59%) |
| Service-disabled veteran-owned (SDVOSB) | 77 (29%) |
| Small business | 29 (11%) |
| 8(a) | 4 (1%) |
| HUBZone | 1 (0%) |
| Women-owned (WOSB and EDWOSB) | 1 (0%) |
Orders placed under an existing contract vehicle often leave the set-aside blank (it is recorded on the vehicle), so they are left out here.
How big are the awards?
The median award was $150,628. 37% were under $100,000, the range where agencies often use simplified acquisition.
| Amount obligated | Awards |
|---|---|
| Under $100K | 265 (37%) |
| $100K-$1M | 250 (35%) |
| $1M-$10M | 77 (11%) |
| $10M+ | 120 (17%) |
Which agencies buy it?
The agencies with the most new NAICS 524292 awards in the period.
| Awards | Obligated | |
|---|---|---|
| Department of Veterans Affairs | 346 | $3.5B |
| Department of Defense | 82 | $1.3B |
| Department of Justice | 61 | $9.4M |
| Department of Health and Human Services | 49 | $385M |
| Department of Homeland Security | 43 | $390M |
| Department of the Treasury | 17 | $34.1M |
| Department of Energy | 11 | $9.5M |
| Department of Transportation | 11 | $2.2M |
Where is the work done?
Largest awards
The five awards with the most obligated, as described by the contracting office. Each links to its record on USAspending.gov.
- Tricare medicare eligible program (tmep) servicesDefense Health Agency, FY2021$223M
- Va claims processing and customer servicesDepartment of Veterans Affairs, FY2024$176M
- Claims reimbursement to health care providers and facilities for testing, treatment and vaccine...Health Resources and Services Administration, FY2021$169M
- Express report: pbm apr, may, jun, july fy26Department of Veterans Affairs, FY2026$159M
- Non-va community healthcare claims processing&provider customer service contact centerDepartment of Veterans Affairs, FY2023$148M
Coming up for re-bid
50 of these awards reach their potential end date (every option exercised) in the 12 months after November 5, 2026. Agencies usually post the follow-on solicitation, or a sources-sought notice, months before that.
Falkview US watches SAM.gov for the follow-on notices under your NAICS codes, checks set-aside eligibility against your UEI, and drafts the response for your team to review. For janitorial, landscaping and facilities support, the recompete calendar lists the individual contracts.
See how Falkview handles a re-bidQuestions
How many bids do NAICS 524292 contracts get?
Competed awards drew a median of 1 offer (FY2016-FY2026, 366 awards with an offer count). 78% got a single offer and 3% got five or more. Across all federal contracts the median is 3 offers.
Which agencies award the most NAICS 524292 contracts?
By number of new awards in FY2016-FY2026: Department of Veterans Affairs (49%), Department of Defense (12%), Department of Justice (9%). Agencies that buy often are the ones to watch for recompetes and sources-sought notices.
How many NAICS 524292 contracts are set aside for small business?
41% of the awards that report a set-aside were reserved for small businesses or a socioeconomic program: Service-disabled veteran-owned (SDVOSB) 29%, small business set-asides 11%, 8(a) 1%. Orders under existing contract vehicles often leave the field blank, so those are not counted.
Where are NAICS 524292 contracts performed?
The most awards were performed in District of Columbia (95), Utah (90), Texas (68). Competition differs by state; each state page below shows its own offer counts.
Where the numbers come from
Every new federal contract award of $25,000 or more signed from October 1, 2015 to September 30, 2026 (FY2016 to FY2026), as reported to USAspending.gov from the Federal Procurement Data System: definitive contracts, purchase orders, delivery orders and BPA calls. Amounts are what has been obligated on each award to date, options and modifications included. Place is the place of performance.
Offer counts are FPDS's “number of offers received” on competed awards. Award recipients are counted but not named here. Pages with fewer than 150 awards (500 for one code in one state) are left out of search engines, because a handful of awards can swing the numbers.
Compiled by Falkview US from public data, updated November 5, 2026. Free to reuse under CC BY 4.0 with a link to the page.
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