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<TITLE>COVENTRY HEALTHCARE, INC.</TITLE>
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<P align="center" style="font-size: 10pt">As Filed With the Securities and Exchange Commission<BR>
on August&nbsp;5, 2004



<P align="right" style="font-size: 10pt">Registration No.&nbsp;333-_________



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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 10pt"><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B>



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<P align="center" style="font-size: 24pt"><B>COVENTRY HEALTH CARE, INC.</B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="65%">
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    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>52-2073000</B></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><B>6705 Rockledge Drive, Suite&nbsp;900</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><B>Bethesda, Maryland</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>20817</B></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>

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<P align="center" style="font-size: 10pt"><B>Coventry Health Care, Inc.<BR>
2004 Incentive Plan</B><BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt"><B>Dale B. Wolf<BR>
6705 Rockledge Drive, Suite&nbsp;900<BR>
Bethesda, Maryland 20817</B><BR>
(Name and address of agent for service)



<P align="center" style="font-size: 10pt"><B>(301)&nbsp;581- 0600</B><BR>
(Telephone number, including area code, of agent for service)



<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Title of securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price per</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>to be registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>share</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee</B><HR size="1" noshade></TD>
</TR>

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<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock,
$.01 par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">1,000,000 shares</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">48.69</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">48,690,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">5,000,000 shares(1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">50.215</TD>
    <TD nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">251,075,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">299,765,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">37,980.23</TD>
    <TD>&nbsp;</TD>
</TR>
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<TR valign="top">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents 5,000,000 shares reserved for issuance pursuant to future
grants under the Company&#146;s 2004 Incentive Plan. Pursuant to Rule 416(a) under
the Securities Act of 1933, as amended, includes an indeterminate number of
additional shares which may be offered and issued to prevent dilution resulting
from stock splits, stock dividends or similar transactions.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The offering price is estimated solely for the purpose of determining the
amount of the registration fee in accordance with Rule 457(c) under the
Securities Act of 1933, as amended, and is based on the average of the high and
low price per share of the Registrant&#146;s Common Stock as reported on the New
York Stock Exchange on August&nbsp;4, 2004.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="g90359exv5.txt">EX-5  OPINION OF BASS, BERRY & SIMS, PLC</A></TD></TR>
<TR><TD colspan="9"><A HREF="g90359exv23w1.txt">EX-23.1  CONSENT OF ERNST & YOUNG</A></TD></TR>
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<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>Information Required in the Section&nbsp;10(a) Prospectus</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coventry Health Care, Inc. (the &#147;Registrant&#148;) has sent or given or will
send or give documents containing the information specified by Part&nbsp;I of this
Form S-8 Registration Statement (the &#147;Registration Statement&#148;) to participants
in the plan to which this Registration Statement relates, as specified in Rule
428(b)(1) promulgated by the Securities and Exchange Commission (the &#147;SEC&#148;)
under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The
Registrant is not filing such documents with the SEC, but these documents
constitute (along with the documents incorporated by reference into the
Registration Statement pursuant to Item&nbsp;3 of Part&nbsp;II hereof) a prospectus that
meets the requirements of Section 10(a) of the Securities Act.


<P align="center" style="font-size: 10pt">I-1
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<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>Information Required in the Registration Statement</B>



<P align="left" style="font-size: 10pt">Item&nbsp;3. Incorporation of Documents by Reference.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Registrant with the SEC, pursuant to
the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), are
hereby incorporated by reference and shall be deemed to be a part hereof from
the date of filing of such document:



<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended
December&nbsp;31, 2004, filed by the Registrant on March&nbsp;10, 2004;</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The Registrant&#146;s Quarterly Reports on Form 10-Q for the quarterly periods
ended March&nbsp;31, 2004, filed by the Registrant on May&nbsp;7, 2004, and June&nbsp;30,
2004, filed by the Registrant on August&nbsp;4, 2004;</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(3)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The Registrant&#146;s Current Reports on Form 8-K filed on January&nbsp;6, 2004,
January&nbsp;28, 2004, April&nbsp;19, 2004, April&nbsp;27, 2004, May&nbsp;19, 2004 and June
28, 2004; and</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(4)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The description of the Registrant&#146;s Common
Stock, par value $0.01 per
share, and the description of the related stock purchase rights, contained
in the Registrant&#146;s Registration Statement on Form 8-A/A filed with the
SEC on March&nbsp;14, 2003, and including all other amendments and reports
filed for the purpose of updating such descriptions.</TD>
</TR>

</TABLE>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Section&nbsp;13(a), 13(c), 14
and 15(d) of the Exchange Act after the date hereof and prior to the filing of
a post-effective amendment to this Registration Statement which indicates that
all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the date of filing of such
documents. Any statements contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or replaced for
purposes hereof to the extent that a statement contained herein (or in any
other subsequently filed document which also is incorporated or deemed to be
incorporated by reference herein) modifies or replaces such statement. Any
statement so modified or replaced shall not be deemed, except as so modified or
replaced, to constitute a part hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, information furnished under Items 9 and 12
of any Current Report on Form 8-K, including the related exhibits, is not
incorporated by reference in this prospectus or the accompanying registration
statement.


<P align="left" style="font-size: 10pt">Item&nbsp;4. Description of Securities.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt">Item&nbsp;5. Interests of Named Experts and Counsel.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt">Item&nbsp;6. Indemnification of Directors and Officers.




<P align="center" style="font-size: 10pt">II-2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the Delaware General Corporation Law (the &#147;DGCL&#148;) permits a
Delaware corporation to indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the
fact that he or she is or was a director, officer, employee or agent of the
corporation or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation or enterprise. A
corporation may indemnify against expenses, (including attorneys&#146; fees)
judgments, fines and amounts paid in settlement actually and reasonably
incurred in connection with such action, suit or proceeding if the person
indemnified acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the corporation, and, with
respect to any criminal action or proceeding, had no reasonable cause to
believe his or her conduct was unlawful. If the person indemnified is not
wholly successful in such action, suit or proceeding, but is successful, on the
merits or otherwise, in one or more but less than all claims, issues or matters
in such proceeding, he or she may be indemnified against expenses actually and
reasonably incurred in connection with each successfully resolved claim, issue
or matter. In the case of an action or suit by or in the right of the
corporation to procure a judgment in its favor, no indemnification may be made
in respect to any claim, issue or matter as to which such person shall have
been adjudged to be liable to the corporation unless and only to the extent
that the Court of Chancery of the State of Delaware, or the court in which such
action or suit was brought, shall determine upon application that, despite the
adjudication of liability, such person is fairly and reasonably entitled to
indemnity for such expenses which the court shall deem proper. Section&nbsp;145
provides that, to the extent a present or former director or officer of a
corporation has been successful in the defense of any action, suit or
proceeding referred to above or in the defense of any claim, issue or manner
therein, he or she shall be indemnified against expenses (including attorneys&#146;
fees) actually and reasonably incurred by him or her in connection therewith.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the fullest extent permitted by the DGCL, Article&nbsp;VI of the
Certificate of Incorporation of the Registrant, as amended (the
&#147;Certificate of Incorporation&#148;) eliminates the personal liability of a
director, officer, employee of agent of the Company for monetary damages for
breaches of his or her fiduciary duty and provides for indemnification of any
director, officer, employee or agent of the Company against any liability or
expense incurred by reason of the fact that the person is or was a director,
officer, employee, or agent of the Registrant, if such person acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to
the best interest of the Registrant, and with respect to any criminal action,
had no reasonable cause to believe that his or her conduct was unlawful.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;Eight of the Registrant&#146;s bylaws (the &#147;Bylaws&#148;), provides for
indemnification of any person threatened to be made a party to any threatened,
pending or completed action (whether civil, criminal, administrative or
investigative, including appeals), other than an action by or in the right of
the Registrant, by reason of the fact that the person is or was a director,
officer, employee, or agent of the Registrant or was serving in such a capacity
for another entity at the Registrant&#146;s request. Such indemnification includes
expenses actually and reasonably incurred (including attorneys&#146; fees) if the
party acted in good faith and in a manner he or she reasonably believed to be
in or not opposed to the best interest of the Registrant, and with respect to
any criminal action, had no reasonable cause to believe that his or her conduct
was unlawful. In actions or proceedings by or in the right of the Registrant,
the Bylaws provide for indemnification of any person threatened to be made a
party to any threatened, pending or completed action by reason of the fact that
the person is or was a director, officer, employee, or agent of the Registrant
or was serving in such a capacity for another entity at the Registrant&#146;s
request. Such indemnification includes expenses actually and reasonably
incurred (including attorneys&#146; fees) if


<P align="center" style="font-size: 10pt">II-3
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">the party acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interest of the Registrant, except
that indemnification is unavailable if the party has been adjudged to be liable
for negligence or misconduct in the performance of his or her duties to the
Registrant, unless and only to the extent that the Delaware Court of Chancery
or the court in which the action was brought shall determine that in light of
all of the circumstances, such person is fairly and reasonably entitled to
indemnity for such expenses as the court deems proper.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bylaws further provide that, generally, indemnification (unless
ordered by a court) must be made by the Registrant only as authorized in the
specific case upon a determination that indemnification is proper in the
circumstances because he or she has met the applicable standards of conduct.
The determination must be made by a majority vote of disinterested directors;
by a committee of disinterested directors designated by disinterested
directors; if there are no disinterested directors or if the disinterested
directors so direct, by independent legal counsel in a written opinion; or by
the stockholders. The Registrant must pay the expenses of an action in advance
of final disposition if authorized by the Board of Directors in a specific case
upon receipt of an undertaking by the person to be indemnified to repay any
such advances unless it shall ultimately be determined that such person is
entitled to be indemnified by the Registrant as authorized in the Bylaws.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The indemnification authorized in the Bylaws is not exclusive of other
rights to which those seeking indemnification may be entitled under the
Certificate of Incorporation, any statute, rule of law, agreement, bylaw,
stockholder vote or otherwise. Such indemnification shall continue as to any
person who has ceased to be a director, officer, employee or agent and shall
inure to the benefit of that person&#146;s heirs, executors, and administrators.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;Eight of the Registrant&#146;s Bylaws further provides that the
Registrant may purchase and maintain insurance on behalf of those persons
described above as eligible for indemnification for liability arising out of
such person&#146;s duties or status with the Registrant whether or not
indemnification in respect of such liability would be permissible under the
Bylaws&#146; provisions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At present, there is no pending litigation or proceeding involving a
director, officer or employee of the Registrant regarding which indemnification
is sought, nor is the Registrant aware of any threatened litigation that may
result in claims for indemnification.


<P align="left" style="font-size: 10pt">Item&nbsp;7. Exemption from Registration Claimed.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.


<P align="left" style="font-size: 10pt">Item&nbsp;8. Exhibits.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
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<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Incorporation of Coventry Health Care, Inc. (Incorporated
by reference to Exhibit&nbsp;3.1 to the Company&#146;s Form&nbsp;S-4, Registration
Statement No.&nbsp;333-45821).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws of Coventry Health Care, Inc. (Incorporated
by reference to Exhibit&nbsp;3.2.3 to the Company&#146;s Form&nbsp;10-Q, for the
Quarter Ended June&nbsp;30, 2004).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-4
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Common Stock Certificate (Incorporated by reference to Exhibit
4.1 to the Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year
ended December&nbsp;31, 2002).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights Agreement dated March&nbsp;30, 1998 between Coventry Health Care, Inc.
and ChaseMellon Shareholder Services, L.L.C., now known as Mellon
Investor Services, LLC, as Rights Agent (Incorporated by reference to
Exhibit&nbsp;4.2 to the Company&#146;s Current Report on Form&nbsp;8-K dated April&nbsp;8,
1998).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;1 to Rights Agreement, dated as of December&nbsp;18, 1998 by
and between Coventry Health Care, Inc. and ChaseMellon Shareholder
Services, L.L.C., now known as Mellon Investor Services, LLC
(Incorporated by reference to Exhibit&nbsp;2 to the Company&#146;s Current Report
on Form&nbsp;8-K dated December&nbsp;21, 1998).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;2 to Rights Agreement, dated as of May&nbsp;5, 2000 by and
between Coventry Health Care, Inc. and ChaseMellon Shareholder Services,
L.L.C., now known as Mellon Investor Services, LLC (Incorporated by
reference to Exhibit&nbsp;4.2.3 to the Company&#146;s Annual Report on Form&nbsp;10-K
for the year ended December&nbsp;31, 2000).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;3 to Rights Agreement, dated as of March&nbsp;5, 2004, by and
between Coventry Health Care, Inc. and Mellon Investor Services LLC,
formerly ChaseMellon Shareholder Services, L.L.C. (Incorporated by
reference to Exhibit&nbsp;4.2.4 to the Company&#146;s Current Report on Form&nbsp;8-K
dated March&nbsp;5, 2004).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture dated as of February&nbsp;1, 2002 between Coventry Health Care,
Inc., as Issuer, and First Union National Bank, as Trustee.
(Incorporated by reference to Exhibit&nbsp;4.9 to the Company&#146;s Form&nbsp;S-4,
Registration Statement No.&nbsp;333-83106).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Note issued pursuant to the Indenture dated as of February&nbsp;1,
2002 between Coventry Health Care, Inc., as Issuer, and First Union
National Bank, as Trustee (Incorporated by reference to Exhibit&nbsp;4.9 to
the Company&#146;s Form&nbsp;S-4, Registration Statement No.&nbsp;333-83106).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Bass, Berry &#038; Sims PLC</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young, LLP</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Bass, Berry &#038; Sims PLC (included in Exhibit&nbsp;5)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on page II-3)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="font-size: 10pt">Item&nbsp;9. Undertakings.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;The Registrant hereby undertakes:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement to include any material
information with respect to the plan of distribution not previously disclosed
in this Registration Statement or any material change to such information in
this Registration Statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona
fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;The Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant&#146;s annual
report pursuant to Section 13(a) or 15(d) of the Exchange Act that is
incorporated by reference in this Registration Statement shall be deemed to be
a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
<I>bona fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the SEC such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.


<P align="center" style="font-size: 10pt">II-6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Bethesda, State of Maryland, on this 5th day of
August, 2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">COVENTRY HEALTH CARE, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ Allen F. Wise
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Allen F. Wise&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">President, Chief Executive Officer and Director&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, each person whose signature appears below
hereby constitutes and appoints Allen F. Wise and Dale B. Wolf, and each of
them, his true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him and in his name, place, and stead, in
any and all capacities, to sign any and all amendments to this Registration
Statement, and to file the same, with the Securities and Exchange Commission,
granting unto said attorney-in-fact and agents full power and authority to do
and perform each and every act and thing requisite and necessary to be done in
and about the premises, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitute or substitutes, may lawfully
do or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR>
        <TD>&nbsp;<BR></TD>
</TR>


<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/ Allen F. Wise<BR>
<HR size="1" noshade>
Allen F. Wise</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President, Chief Executive Officer and Director<BR>
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Dale B. Wolf<BR>
<HR size="1" noshade>
Dale B. Wolf</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Executive Vice President, Chief Financial Officer,<BR>
Treasurer and Director (Principal Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ John J. Ruhlmann<BR>
<HR size="1" noshade>
John J. Ruhlmann</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice President and Controller (Principal<BR>
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-7
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR>
        <TD>&nbsp;<BR></TD>
</TR>


<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/ John H. Austin, M.D.<BR>
<HR size="1" noshade>
John H. Austin, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board and Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Joel Ackerman<BR>
<HR size="1" noshade>
Joel Ackerman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ L. Dale Crandall<BR>
<HR size="1" noshade>
L. Dale Crandall</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Emerson D. Farley, Jr.<BR>
<HR size="1" noshade>
Emerson D. Farley, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Lawrence N. Kugelman<BR>
<HR size="1" noshade>
Lawrence N. Kugelman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Rodman W. Moorhead, III<BR>
<HR size="1" noshade>
Rodman W. Moorhead, III</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Robert W. Morey<BR>
<HR size="1" noshade>
Robert W. Morey</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Elizabeth E. Tallett<BR>
<HR size="1" noshade>
Elizabeth E. Tallett</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August 5, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<BR>
<HR size="1" noshade>
Timothy T. Weglicki</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">August &#95;&#95;&#95;, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-8
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>EXHIBIT INDEX</B></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Bass, Berry &#038; Sims PLC</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young, LLP</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Bass, Berry &#038; Sims PLC (included in Exhibit&nbsp;5)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on page II-3)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">
</DIV>


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COVENTRY HEALTHCARE, INC.
Table of Contents
As Filed With the Securities and Exchange Commission
on August 5, 2004
Registration No. 333-_________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
COVENTRY HEALTH CARE, INC.
(Exact name of registrant as specified in its charter)
Delaware
52-2073000
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
6705 Rockledge Drive, Suite 900
Bethesda, Maryland
20817
(Address of Principal Executive Offices)
(Zip Code)
Coventry Health Care, Inc.
2004 Incentive Plan
(Full title of the plan)
Dale B. Wolf
6705 Rockledge Drive, Suite 900
Bethesda, Maryland 20817
(Name and address of agent for service)
(301) 581- 0600
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to be
offering price per
aggregate offering
Amount of
to be registered
registered
share
price
registration fee
Common Stock,
$.01 par value
1,000,000 shares
$
48.69
$
48,690,000
5,000,000 shares(1)
$
50.215
(2)
$
251,075,000
$
299,765,000
$
37,980.23
(1)
Represents 5,000,000 shares reserved for issuance pursuant to future
grants under the Company's 2004 Incentive Plan. Pursuant to Rule 416(a) under
the Securities Act of 1933, as amended, includes an indeterminate number of
additional shares which may be offered and issued to prevent dilution resulting
from stock splits, stock dividends or similar transactions.
(2)
The offering price is estimated solely for the purpose of determining the
amount of the registration fee in accordance with Rule 457(c) under the
Securities Act of 1933, as amended, and is based on the average of the high and
low price per share of the Registrant's Common Stock as reported on the New
York Stock Exchange on August 4, 2004.
TABLE OF CONTENTS
PART I
PART II
SIGNATURES
EX-5  OPINION OF BASS, BERRY & SIMS, PLC
EX-23.1  CONSENT OF ERNST & YOUNG
Table of Contents
PART I
Information Required in the Section 10(a) Prospectus
Coventry Health Care, Inc. (the "Registrant") has sent or given or will
send or give documents containing the information specified by Part I of this
Form S-8 Registration Statement (the "Registration Statement") to participants
in the plan to which this Registration Statement relates, as specified in Rule
428(b)(1) promulgated by the Securities and Exchange Commission (the "SEC")
under the Securities Act of 1933, as amended (the "Securities Act"). The
Registrant is not filing such documents with the SEC, but these documents
constitute (along with the documents incorporated by reference into the
Registration Statement pursuant to Item 3 of Part II hereof) a prospectus that
meets the requirements of Section 10(a) of the Securities Act.
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Table of Contents
PART II
Information Required in the Registration Statement
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant with the SEC, pursuant to
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are
hereby incorporated by reference and shall be deemed to be a part hereof from
the date of filing of such document:
(1)
The Registrant's Annual Report on Form 10-K for the fiscal year ended
December 31, 2004, filed by the Registrant on March 10, 2004;
(2)
The Registrant's Quarterly Reports on Form 10-Q for the quarterly periods
ended March 31, 2004, filed by the Registrant on May 7, 2004, and June 30,
2004, filed by the Registrant on August 4, 2004;
(3)
The Registrant's Current Reports on Form 8-K filed on January 6, 2004,
January 28, 2004, April 19, 2004, April 27, 2004, May 19, 2004 and June
28, 2004; and
(4)
The description of the Registrant's Common
Stock, par value $0.01 per
share, and the description of the related stock purchase rights, contained
in the Registrant's Registration Statement on Form 8-A/A filed with the
SEC on March 14, 2003, and including all other amendments and reports
filed for the purpose of updating such descriptions.
All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14
and 15(d) of the Exchange Act after the date hereof and prior to the filing of
a post-effective amendment to this Registration Statement which indicates that
all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the date of filing of such
documents. Any statements contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or replaced for
purposes hereof to the extent that a statement contained herein (or in any
other subsequently filed document which also is incorporated or deemed to be
incorporated by reference herein) modifies or replaces such statement. Any
statement so modified or replaced shall not be deemed, except as so modified or
replaced, to constitute a part hereof.
Notwithstanding the foregoing, information furnished under Items 9 and 12
of any Current Report on Form 8-K, including the related exhibits, is not
incorporated by reference in this prospectus or the accompanying registration
statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
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Section 145 of the Delaware General Corporation Law (the "DGCL") permits a
Delaware corporation to indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the
fact that he or she is or was a director, officer, employee or agent of the
corporation or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation or enterprise. A
corporation may indemnify against expenses, (including attorneys' fees)
judgments, fines and amounts paid in settlement actually and reasonably
incurred in connection with such action, suit or proceeding if the person
indemnified acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the corporation, and, with
respect to any criminal action or proceeding, had no reasonable cause to
believe his or her conduct was unlawful. If the person indemnified is not
wholly successful in such action, suit or proceeding, but is successful, on the
merits or otherwise, in one or more but less than all claims, issues or matters
in such proceeding, he or she may be indemnified against expenses actually and
reasonably incurred in connection with each successfully resolved claim, issue
or matter. In the case of an action or suit by or in the right of the
corporation to procure a judgment in its favor, no indemnification may be made
in respect to any claim, issue or matter as to which such person shall have
been adjudged to be liable to the corporation unless and only to the extent
that the Court of Chancery of the State of Delaware, or the court in which such
action or suit was brought, shall determine upon application that, despite the
adjudication of liability, such person is fairly and reasonably entitled to
indemnity for such expenses which the court shall deem proper. Section 145
provides that, to the extent a present or former director or officer of a
corporation has been successful in the defense of any action, suit or
proceeding referred to above or in the defense of any claim, issue or manner
therein, he or she shall be indemnified against expenses (including attorneys'
fees) actually and reasonably incurred by him or her in connection therewith.
To the fullest extent permitted by the DGCL, Article VI of the
Certificate of Incorporation of the Registrant, as amended (the
"Certificate of Incorporation") eliminates the personal liability of a
director, officer, employee of agent of the Company for monetary damages for
breaches of his or her fiduciary duty and provides for indemnification of any
director, officer, employee or agent of the Company against any liability or
expense incurred by reason of the fact that the person is or was a director,
officer, employee, or agent of the Registrant, if such person acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to
the best interest of the Registrant, and with respect to any criminal action,
had no reasonable cause to believe that his or her conduct was unlawful.
Section Eight of the Registrant's bylaws (the "Bylaws"), provides for
indemnification of any person threatened to be made a party to any threatened,
pending or completed action (whether civil, criminal, administrative or
investigative, including appeals), other than an action by or in the right of
the Registrant, by reason of the fact that the person is or was a director,
officer, employee, or agent of the Registrant or was serving in such a capacity
for another entity at the Registrant's request. Such indemnification includes
expenses actually and reasonably incurred (including attorneys' fees) if the
party acted in good faith and in a manner he or she reasonably believed to be
in or not opposed to the best interest of the Registrant, and with respect to
any criminal action, had no reasonable cause to believe that his or her conduct
was unlawful. In actions or proceedings by or in the right of the Registrant,
the Bylaws provide for indemnification of any person threatened to be made a
party to any threatened, pending or completed action by reason of the fact that
the person is or was a director, officer, employee, or agent of the Registrant
or was serving in such a capacity for another entity at the Registrant's
request. Such indemnification includes expenses actually and reasonably
incurred (including attorneys' fees) if
II-3
Table of Contents
the party acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interest of the Registrant, except
that indemnification is unavailable if the party has been adjudged to be liable
for negligence or misconduct in the performance of his or her duties to the
Registrant, unless and only to the extent that the Delaware Court of Chancery
or the court in which the action was brought shall determine that in light of
all of the circumstances, such person is fairly and reasonably entitled to
indemnity for such expenses as the court deems proper.
The Bylaws further provide that, generally, indemnification (unless
ordered by a court) must be made by the Registrant only as authorized in the
specific case upon a determination that indemnification is proper in the
circumstances because he or she has met the applicable standards of conduct.
The determination must be made by a majority vote of disinterested directors;
by a committee of disinterested directors designated by disinterested
directors; if there are no disinterested directors or if the disinterested
directors so direct, by independent legal counsel in a written opinion; or by
the stockholders. The Registrant must pay the expenses of an action in advance
of final disposition if authorized by the Board of Directors in a specific case
upon receipt of an undertaking by the person to be indemnified to repay any
such advances unless it shall ultimately be determined that such person is
entitled to be indemnified by the Registrant as authorized in the Bylaws.
The indemnification authorized in the Bylaws is not exclusive of other
rights to which those seeking indemnification may be entitled under the
Certificate of Incorporation, any statute, rule of law, agreement, bylaw,
stockholder vote or otherwise. Such indemnification shall continue as to any
person who has ceased to be a director, officer, employee or agent and shall
inure to the benefit of that person's heirs, executors, and administrators.
Section Eight of the Registrant's Bylaws further provides that the
Registrant may purchase and maintain insurance on behalf of those persons
described above as eligible for indemnification for liability arising out of
such person's duties or status with the Registrant whether or not
indemnification in respect of such liability would be permissible under the
Bylaws' provisions.
At present, there is no pending litigation or proceeding involving a
director, officer or employee of the Registrant regarding which indemnification
is sought, nor is the Registrant aware of any threatened litigation that may
result in claims for indemnification.
Item 7. Exemption from Registration Claimed.
None.
Item 8. Exhibits.
3.1
Certificate of Incorporation of Coventry Health Care, Inc. (Incorporated
by reference to Exhibit 3.1 to the Company's Form S-4, Registration
Statement No. 333-45821).
3.2
Amended and Restated Bylaws of Coventry Health Care, Inc. (Incorporated
by reference to Exhibit 3.2.3 to the Company's Form 10-Q, for the
Quarter Ended June 30, 2004).
II-4
Table of Contents
4.1
Specimen Common Stock Certificate (Incorporated by reference to Exhibit
4.1 to the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2002).
4.2.1
Rights Agreement dated March 30, 1998 between Coventry Health Care, Inc.
and ChaseMellon Shareholder Services, L.L.C., now known as Mellon
Investor Services, LLC, as Rights Agent (Incorporated by reference to
Exhibit 4.2 to the Company's Current Report on Form 8-K dated April 8,
1998).
4.2.2
Amendment No. 1 to Rights Agreement, dated as of December 18, 1998 by
and between Coventry Health Care, Inc. and ChaseMellon Shareholder
Services, L.L.C., now known as Mellon Investor Services, LLC
(Incorporated by reference to Exhibit 2 to the Company's Current Report
on Form 8-K dated December 21, 1998).
4.2.3
Amendment No. 2 to Rights Agreement, dated as of May 5, 2000 by and
between Coventry Health Care, Inc. and ChaseMellon Shareholder Services,
L.L.C., now known as Mellon Investor Services, LLC (Incorporated by
reference to Exhibit 4.2.3 to the Company's Annual Report on Form 10-K
for the year ended December 31, 2000).
4.2.4
Amendment No. 3 to Rights Agreement, dated as of March 5, 2004, by and
between Coventry Health Care, Inc. and Mellon Investor Services LLC,
formerly ChaseMellon Shareholder Services, L.L.C. (Incorporated by
reference to Exhibit 4.2.4 to the Company's Current Report on Form 8-K
dated March 5, 2004).
4.3
Indenture dated as of February 1, 2002 between Coventry Health Care,
Inc., as Issuer, and First Union National Bank, as Trustee.
(Incorporated by reference to Exhibit 4.9 to the Company's Form S-4,
Registration Statement No. 333-83106).
4.4
Form of Note issued pursuant to the Indenture dated as of February 1,
2002 between Coventry Health Care, Inc., as Issuer, and First Union
National Bank, as Trustee (Incorporated by reference to Exhibit 4.9 to
the Company's Form S-4, Registration Statement No. 333-83106).
5
Opinion of Bass, Berry & Sims PLC
23.1
Consent of Ernst & Young, LLP
II-5
Table of Contents
23.2
Consent of Bass, Berry & Sims PLC (included in Exhibit 5)
24
Power of Attorney (included on page II-3)
Item 9. Undertakings.
A. The Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement to include any material
information with respect to the plan of distribution not previously disclosed
in this Registration Statement or any material change to such information in
this Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
B. The Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant's annual
report pursuant to Section 13(a) or 15(d) of the Exchange Act that is
incorporated by reference in this Registration Statement shall be deemed to be
a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
C. Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the SEC such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.
II-6
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Bethesda, State of Maryland, on this 5th day of
August, 2004.
COVENTRY HEALTH CARE, INC.
By:
/s/ Allen F. Wise
Allen F. Wise
President, Chief Executive Officer and Director
KNOW ALL MEN BY THESE PRESENTS, each person whose signature appears below
hereby constitutes and appoints Allen F. Wise and Dale B. Wolf, and each of
them, his true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him and in his name, place, and stead, in
any and all capacities, to sign any and all amendments to this Registration
Statement, and to file the same, with the Securities and Exchange Commission,
granting unto said attorney-in-fact and agents full power and authority to do
and perform each and every act and thing requisite and necessary to be done in
and about the premises, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitute or substitutes, may lawfully
do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature
Title
Date
/s/ Allen F. Wise
Allen F. Wise
President, Chief Executive Officer and Director
(Principal Executive Officer)
August 5, 2004
/s/ Dale B. Wolf
Dale B. Wolf
Executive Vice President, Chief Financial Officer,
Treasurer and Director (Principal Financial Officer)
August 5, 2004
/s/ John J. Ruhlmann
John J. Ruhlmann
Vice President and Controller (Principal
Accounting Officer)
August 5, 2004
II-7
Table of Contents
Signature
Title
Date
/s/ John H. Austin, M.D.
John H. Austin, M.D.
Chairman of the Board and Director
August 5, 2004
/s/ Joel Ackerman
Joel Ackerman
Director
August 5, 2004
/s/ L. Dale Crandall
L. Dale Crandall
Director
August 5, 2004
/s/ Emerson D. Farley, Jr.
Emerson D. Farley, Jr.
Director
August 5, 2004
/s/ Lawrence N. Kugelman
Lawrence N. Kugelman
Director
August 5, 2004
/s/ Rodman W. Moorhead, III
Rodman W. Moorhead, III
Director
August 5, 2004
/s/ Robert W. Morey
Robert W. Morey
Director
August 5, 2004
/s/ Elizabeth E. Tallett
Elizabeth E. Tallett
Director
August 5, 2004
Timothy T. Weglicki
Director
August ___, 2004
II-8
Table of Contents
EXHIBIT INDEX
Exhibit Number
Description
5
Opinion of Bass, Berry & Sims PLC
23.1
Consent of Ernst & Young, LLP
23.2
Consent of Bass, Berry & Sims PLC (included in Exhibit 5)
24
Power of Attorney (included on page II-3)