Top VA pharmacy benefit management and other third party administration of insurance and pension funds contractors
In the 12 months ending Oct 5, 2026, the Department of Veterans Affairs obligated $975.1M in net prime contract dollars under NAICS 524292, up 59.2% from $612.5M in the preceding 12 months. 10 prime contractors received positive obligations, and 2 of them accounted for 80% of that spend.
Prime contracts funded by the Department of Veterans Affairs. Latest 12 months: Oct 6, 2025 to Oct 5, 2026. Source: USAspending.gov.
Obligations by fiscal year
Net prime contract obligations by federal fiscal year (October to September).
Top VA contractors for NAICS 524292
Ranked by positive obligations in the latest 12 months. Share is of all positive obligations in this market.
| # | Contractor | Latest 12 mo | Prior 12 mo | Share | Rank change |
|---|---|---|---|---|---|
| 1 | Optumrx Administrative Services, LLC | $508.7M | $226.0M | 52.2% | ▲ 1 |
| 2 | Triwest Healthcare Alliance Corp | $323.7M | $343.9M | 33.2% | ▼ 1 |
| 3 | Signature Choice II, LLC | $126.4M | $38.0M | 13.0% | — |
| 4 | Receivia, Inc. | $9.2M | $0 | 0.9% | New |
| 5 | Healthequity, Inc. | $2.7M | $1.4M | 0.3% | — |
| 6 | Palisade Heritage Health, LLC | $2.0M | $0 | 0.2% | New |
| 7 | Palisade-Heritage JV LLC | $1.3M | $969K | 0.1% | — |
| 8 | Palisade Strategies, LLC | $780K | $1.7M | 0.1% | ▼ 4 |
| 9 | Palisade-Heritage Joint Venture II, LLC | $455K | $1.2M | 0.1% | ▼ 3 |
| 10 | Bliss Pharmacy Services LLC | $170K | $0 | 0.0% | New |
What changed in the last 12 months
Contractors with the largest change in reported obligations versus the preceding 12 months.
Largest gains
- Optumrx Administrative Services, LLC$226.0M → $508.7M (+$282.7M) · now #1
- Signature Choice II, LLC$38.0M → $126.4M (+$88.4M) · now #3
- Receivia, Inc.$0 → $9.2M (+$9.2M) · now #4
Largest declines
- Triwest Healthcare Alliance Corp$343.9M → $323.7M (−$20.3M) · now #2
- Palisade Strategies, LLC$1.7M → $780K (−$903K) · now #8
- Palisade-Heritage Joint Venture II, LLC$1.2M → $455K (−$705K) · now #9
New to this market
3 contractors received their first obligations in this market (since FY2022) during the latest 12 months. The largest:
| Contractor | First obligation | Latest 12 mo |
|---|---|---|
| Receivia, Inc. | Apr 30, 2026 | $9.2M |
| Palisade Heritage Health, LLC | Oct 14, 2025 | $2.0M |
| Bliss Pharmacy Services LLC | Oct 1, 2026 | $170K |
Where the money comes from
Funding sub-agencies within the Department of Veterans Affairs, latest 12 months. The funding organization can differ from the office that runs the requirement.
| Funding sub-agency | Latest 12 mo | Prior 12 mo | Change |
|---|---|---|---|
| Department of Veterans Affairs | $975.1M | $612.5M | Up $362.6M (59.2%) |
Potential recompetes
Large awards in this market whose current period of performance ends in the next 18 months. Treat these as research leads: options, extensions, and follow-on vehicles often change the timing.
| Award | Incumbent | Obligated | Current end |
|---|---|---|---|
| 36C10G25N0048 | Signature Choice II, LLC VA CLAIMS PROCESSING AND CUSTOMER SERVICE | $147.6M | Nov 7, 2026 |
| 36C10X26F0009 | Healthequity, Inc. ADMINISTRATIVE SERVICE FEES FOR VA FSAFEDS PARTICIPANTS | $2.7M | Dec 31, 2026 |
| 36C77626P0034 | Receivia, Inc. THIRD PARTY BILLING OF OUTPATIENT CLAIMS TO INSURANCE CARRIERS | $9.2M | Mar 31, 2027 |
| 36C26226N0489 | Palisade Strategies, LLC EO14042 - PHARMACY BENEFIT MANAGEMENT | $1.5M | Mar 31, 2027 |
Common questions
Who are the top VA contractors for NAICS 524292?
In the latest 12 months, Optumrx Administrative Services, LLC ($508.7M), Triwest Healthcare Alliance Corp ($323.7M), Signature Choice II, LLC ($126.4M) received the most VA obligations for pharmacy benefit management and other third party administration of insurance and pension funds.
How concentrated is this market?
The eight largest primes held 99.9% of positive obligations, and Optumrx Administrative Services, LLC alone held 52.2%. 3 contractors won their first obligations in this market during the latest 12 months.
Are any large VA NAICS 524292 contracts ending soon?
4 of the largest awards in this market reach their current end date in the next 18 months. The first is 36C10G25N0048 (Signature Choice II, LLC, $147.6M obligated), ending Nov 7, 2026. An end date is a research lead, not a confirmed recompete: options and extensions often move it.
Related markets
NAICS 524292 across all agencies
DHS · NAICS 524292
$68.1MDoD · NAICS 524292
$47.2MFigures are net obligations on prime contracts (award types A–D) from USAspending.gov, grouped by funding agency and the NAICS code on each award. Net obligations include deobligations and corrections, so they can differ from positive-obligation totals. See methodology.
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