NAICS 52512 - Health and Welfare Funds
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Related NAICS Codes for NAICS 52512
Click on any NAICS code to explore that specific industry within NAICS 52512
| NAICS Code | Industry Title |
|---|---|
| 525120 | Health and Welfare Funds |
What is NAICS 52512
NAICS code 52512 covers Health and Welfare Funds, which primarily include employee benefit funds such as those providing health insurance, retirement benefits, and welfare programs. Businesses operating in this sector typically manage and administer these funds, ensuring compliance with regulatory standards and efficient distribution of benefits to eligible participants. These entities may include third-party administrators, consultants, and fund managers specializing in the financial and operational management of health and welfare benefit plans. Government agencies contract these services to ensure the effective administration of employee benefit programs for federal, state, and municipal employees, as well as to manage public welfare initiatives.
Breakdown for NAICS 52512
- Focuses on administration and management of employee health and welfare benefit funds.
- Includes compliance with federal and state regulatory requirements related to benefit plans.
- Applicable to both public sector employee benefit programs and public welfare funds.
- Small business size standard typically based on annual receipts under $38.5 million.
- Encompasses fund management, consulting, and administrative services.
Included Activities for NAICS 52512
- Administering employee health and welfare benefit plans.
- Managing fund disbursement and financial reporting.
- Ensuring compliance with health and labor regulations.
- Consulting on benefit program design and implementation.
- Providing third-party administration services.
- Conducting audits and performance reviews of benefit funds.
- Developing participant communication and outreach materials.
- Implementing digital solutions for fund management.
Business Types for NAICS 52512
- Third-party administrators specializing in employee benefits.
- Consulting firms focused on health and welfare programs.
- Financial management companies for benefit funds.
- Nonprofit organizations managing public welfare funds.
- Insurance brokers and benefit plan advisors.
Government Buyers for NAICS 52512
Government agencies such as the Department of Labor, Department of Health and Human Services, and various state-level health and human services departments often purchase Health and Welfare Fund services. These agencies require expert fund management to oversee employee benefit plans, administer public welfare programs, and ensure regulatory compliance. Contracting these services helps maintain the integrity and efficiency of benefit distribution, reduces administrative burdens, and supports the wellbeing of public sector employees and program beneficiaries.
Contract Types & Procurement for NAICS 52512
Contracts under NAICS 52512 typically include fixed-price, cost-reimbursement, and indefinite-delivery/indefinite-quantity (IDIQ) contracts. Procurement methods often involve competitive bidding, requests for proposals (RFPs), and sole-source contracts in specialized cases. Contract values vary widely depending on the scope and size of the fund managed, ranging from small-scale administrative contracts valued under $100,000 to large-scale fund management agreements exceeding several million dollars. Performance-based contracting is also common to ensure accountability and measurable results.
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