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NAICS Code 524298-23 - Insurance Prescription Drug Plans
Marketing Level - NAICS 8-DigitBusiness Lists and Databases Available for Marketing and Research
Total Verified Companies:
5
Contact Emails:
607
Company Websites:
5
Phone Numbers:
3
Business Addresses:
5
Companies with Email:
4
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Looking for more companies? See NAICS 524298 - All Other Insurance Related Activities - 3,539 companies, 77,299 emails.
NAICS Code 524298-23 Description (8-Digit)
Insurance Prescription Drug Plans is a subdivision of the NAICS Code 524298 that involves the provision of insurance coverage for prescription drugs. This industry is responsible for providing individuals with access to prescription drugs at a reduced cost. Insurance Prescription Drug Plans are typically offered by health insurance companies, and they are designed to help individuals manage the high cost of prescription drugs. This industry is an essential part of the healthcare system, as it ensures that individuals have access to the medications they need to manage their health conditions.
Parent Code - Official US Census
Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 524298 page
Tools
Tools commonly used in the Insurance Prescription Drug Plans industry for day-to-day tasks and operations.
- Pharmacy Benefit Management (PBM) Software
- Claims Processing Software
- Electronic Health Records (EHR) Software
- Customer Relationship Management (CRM) Software
- Data Analytics Software
- Prescription Drug Monitoring Program (PDMP) Software
- Drug Formulary Management Software
- Prior Authorization Software
- Drug Utilization Review (DUR) Software
- Electronic Prescribing (e-Prescribing) Software
Industry Examples of Insurance Prescription Drug Plans
Common products and services typical of NAICS Code 524298-23, illustrating the main business activities and contributions to the market.
- Prescription Drug Coverage
- Medicare Part D Plans
- Pharmacy Benefit Management (PBM) Services
- Prescription Discount Cards
- Prescription Savings Programs
- Prescription Drug Assistance Programs
- Prescription Drug Coupons
- Prescription Drug Rebate Programs
- Prescription Drug Co-pay Assistance Programs
- Prescription Drug Patient Assistance Programs
History
A concise historical narrative of NAICS Code 524298-23 covering global milestones and recent developments within the United States.
- The "Insurance Prescription Drug Plans" industry has its roots in the early 20th century when the first health insurance policies were introduced in the United States. However, it wasn't until the 1960s that prescription drug coverage became a standard part of health insurance policies. In the 1990s, the Medicare Prescription Drug Improvement and Modernization Act was passed, which created the Medicare Part D program, providing prescription drug coverage to Medicare beneficiaries. Since then, the industry has continued to grow, with the introduction of new drugs and advancements in technology. In recent years, the industry has faced challenges such as rising drug prices and the opioid epidemic. In response, insurance companies have implemented new strategies to control costs, such as negotiating with drug manufacturers for lower prices and promoting the use of generic drugs. The COVID-19 pandemic has also had an impact on the industry, with increased demand for prescription drugs and changes in healthcare policies. Despite these challenges, the industry is expected to continue to grow as the population ages and new drugs are developed.