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<TITLE>Form S-8 for PacifiCare Health Systems</TITLE>
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<P align="center"><FONT size="2">As filed with the Securities and
Exchange Commission on July 3, 2002</FONT>

<P align="right"><FONT size="2">Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>

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<P align="center"><FONT size="2">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</FONT>

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<P align="center"><FONT size="2">FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</FONT>

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<P align="center"><FONT size="2">PACIFICARE HEALTH SYSTEMS, INC.<BR>
(Exact name of registrant as specified in its charter)</FONT>

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        <TD align="center" valign="top"><FONT size="2">Delaware<BR>
(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
95-4591529<BR>
(I.R.S. Employer Identification No.)</FONT></TD>
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<P align="center"><FONT size="2">5757 Plaza Street, Cypress, California 90630<BR>
(Address of principal executive offices)</FONT>

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<P align="center"><FONT size="2">1996 Stock Option Plan for Officers and Key Employees, as amended<BR>
(Full titles of the plan)</FONT>

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<P align="center"><FONT size="2">Joseph S. Konowiecki, Esq.<BR>
General Counsel and Secretary<BR>
PacifiCare Health Systems, Inc.<BR>
5757 Plaza Street<BR>
Cypress, California 90630<BR>
(714)&nbsp;226-3000<BR>
(Name, address and telephone number, including area code, of agent for service)</FONT>

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<P align="center"><FONT size="2">Copies to:</FONT>

<P align="center"><FONT size="2">Barbara Borden, Esq.<BR>
Cooley Godward LLP<BR>
4401 Eastgate Mall<BR>
San Diego, California 92121<BR>
(858)&nbsp;550-6000</FONT>

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<P align="center"><FONT size="2">&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><TD colspan="9"><A HREF="#000">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interest of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="a82570exv5w1.htm">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="a82570exv15w1.htm">EXHIBIT 15.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="a82570exv23w1.htm">EXHIBIT 23.1</A></TD></TR>
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<P align="center"><FONT size="2">CALCULATION OF REGISTRATION FEE</FONT>

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        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Share</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
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        <TD><FONT size="2">Common Stock, par
value $0.01 per
share, including
related rights to
purchase Series&nbsp;A
junior participating
preferred stock(1)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">709,892</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">26.71</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">18,961,215</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD><FONT size="2">1,744</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Underlying shares of Common Stock issuable under PacifiCare&#146;s 1996
Stock Option Plan for Officers and Key Employees, as amended. Pursuant
to Rule&nbsp;416(a) under the Securities Act of 1933, as amended, this
Registration Statement shall also cover any additional shares of Common
Stock that become issuable under the Plan by reason of any stock
dividend, stock split, recapitalization or other similar transaction
effected without receipt of consideration that increases the number of
outstanding shares of Common Stock.</FONT></TD>
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<TR><TD><TR><TD><TR><TD><TR><TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee
pursuant to Rule&nbsp;457(h), on the basis of the average of the high and low
prices of the Registrant&#146;s Common Stock as reported on the Nasdaq
National Market System on a date within five business days of the filing
hereof with respect to the shares being registered.</FONT></TD>
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<P align="center"><FONT size="2">2
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<P align="center"><FONT size="2">PART II</FONT>

<P align="center"><FONT size="2">INFORMATION REQUIRED IN<BR>
THE REGISTRATION STATEMENT</FONT>

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<P align="left"><FONT size="2">Item&nbsp;3. Incorporation of
Documents by Reference.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents which have been filed by PacifiCare Health
Systems, Inc., a Delaware corporation (the &#147;Registrant&#148;) with the Securities
and Exchange Commission, or SEC, are incorporated herein by reference:
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   <TD width="98%"><FONT size="2">a)&nbsp;The Registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2001 (the &#147;Form&nbsp;10-K&#148;), which is the Registrant&#146;s latest Annual
Report on Form&nbsp;10-K filed pursuant to Section&nbsp;13(a) or 15(d) of the
Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) and which contains
audited financial statements for the Registrant&#146;s latest fiscal year for
which a Form&nbsp;10-K was required to have been filed.</FONT></TD>
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   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">b)&nbsp;The Registrant&#146;s Quarterly Reports on Form&nbsp;10-Q for the quarter ended
March&nbsp;31, 2002.</FONT></TD>
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   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">c)&nbsp;The Registrant&#146;s Current Reports on Form&nbsp;8-K filed on January&nbsp;10, 2002,
May&nbsp;3, 2002, May&nbsp;14, 2002, May&nbsp;16, 2002 and
May&nbsp;17, 2002.</FONT></TD>
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   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">d)&nbsp;The description of the Registrant&#146;s common stock, set forth in a
Registration Statement on Form&nbsp;8-B filed by the Registrant as N-T Holdings,
Inc., our former name, on January&nbsp;9, 1997, as amended by the Form&nbsp;8-A filed
by the Registrant with the SEC on December&nbsp;4, 2001.</FONT></TD>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Registrant or the Plan pursuant to
Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this registration statement and to be
a part hereof from the date of filing of such documents.
</FONT>
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<P align="left"><FONT size="2">Item&nbsp;4. Description of Securities.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s certificate of incorporation authorizes the Registrant to
issue 200,000,000 shares of common stock, par value $0.01 per share and
40,000,000 shares of preferred stock, par value $0.01 per share. As of June&nbsp;28,
2002, approximately 35,495,000 shares of common stock were outstanding and no
shares of preferred stock were outstanding.
</FONT>
<P align="left"><FONT size="2">COMMON STOCK</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VOTING. Common stockholders are entitled to one (1)&nbsp;vote per share for the
election of directors and on all other matters that require stockholder
approval.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DIVIDENDS AND OTHER DISTRIBUTIONS. Holders of the Registrant&#146;s common
stock are entitled to share in an equal amount per share in any dividends
declared by the Registrant&#146;s board of directors and paid out of legally
available assets.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DISTRIBUTION ON DISSOLUTION. Subject to any preferential rights of any
outstanding preferred stock, in the event of the Registrant&#146;s liquidation,
dissolution or winding up, holders of the Registrant&#146;s common stock are
entitled to share ratably in the assets remaining after payment of liabilities
and the liquidation preferences of any outstanding preferred stock.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER RIGHTS. The Registrant&#146;s common stock does not carry any preemptive
or redemptive rights enabling a holder to subscribe for, or receive shares of,
any class of the Registrant&#146;s common stock or any other securities convertible
into shares of any class of the Registrant&#146;s common stock.
</FONT>
<P align="left"><FONT size="2">PREFERRED STOCK</FONT>

<P><FONT size="2">Under the Registrant&#146;s Amended and Restated Certificate of Incorporation, the
Registrant&#146;s board of directors has the authority, without further action by
stockholders, to designate up to 40,000,000 shares of preferred stock in one or
more series and to fix the
</FONT>
<P align="center"><FONT size="2">3
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<P><FONT size="2">rights, preferences, privileges, qualifications and restrictions granted to, or
imposed upon, the preferred stock, including dividend rights, conversion
rights, voting rights, rights and terms of redemption, liquidation preference
and sinking fund terms, any and all of which may be greater than the rights of
the common stock. The issuance of preferred stock could adversely affect the
voting power of holders of common stock and reduce the likelihood that common
stockholders will receive dividend payments and payments upon liquidation. The
issuance of preferred stock could have the effect of decreasing the market
price of the common stock. The issuance of preferred stock also could have the
effect of delaying, deterring or preventing a change in control of the
Registrant.
</FONT>
<P align="left"><FONT size="2">STOCKHOLDER RIGHTS AGREEMENT</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In November 1999, the Registrant&#146;s board of directors adopted a
stockholder rights agreement to protect stockholder rights in the event of a
proposed takeover. The board of directors declared a dividend of one right for
each share of the Registrant&#146;s common stock outstanding as of November&nbsp;19,
1999. The right entitles the registered holder to purchase from the Registrant
1/100th of a share of Series&nbsp;A junior participating preferred stock at a price
of $180 per 1/100th of a preferred share. Similar rights will generally be
issued in respect of common stock issued after November&nbsp;19, 1999.
</FONT>
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<P align="left"><FONT size="2">Item&nbsp;5. Interest of Named Experts and Counsel.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<P align="left"><FONT size="2">Item&nbsp;6. Indemnification of Directors and Officers.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;145 of the Delaware General Corporation Law, the Registrant
has broad powers to indemnify its directors and officers against liabilities
they may incur in such capacities, including liabilities under the Securities
Act of 1933, as amended (the &#147;Securities Act&#148;). The Registrant&#146;s bylaws provide
that the Registrant will indemnify its directors, officers, employees or agents
in a manner consistent with the provisions of the Delaware General Corporation
Law.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Registrant&#146;s certificate of incorporation provides that,
pursuant to Delaware law, its directors shall not be liable for monetary
damages for breach of the directors&#146; fiduciary duty of care to the Registrant
and its stockholders. This provision in the certificate of incorporation does
not eliminate the duty of care, and in appropriate circumstances equitable
remedies such as injunctive or other forms of non-monetary relief will remain
available under Delaware law. In addition, each director will continue to be
subject to liability for breach of the director&#146;s duty of loyalty to the
Registrant, for acts or omissions not in good faith or involving intentional
misconduct or a knowing violation of law, for actions leading to improper
personal benefit to the director, and for payment of dividends or approval of
stock repurchases or redemptions that are unlawful under Delaware law. The
provision also does not affect a director&#146;s responsibilities under any other
law, such as the federal securities laws or state or federal environmental
laws.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains a policy providing directors&#146; and officers&#146;
liability insurance, which insures directors and officers of the Registrant in
certain circumstances.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers or persons controlling the
Registrant pursuant to the foregoing provisions, the Registrant has been
informed that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable.
</FONT>
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<P align="left"><FONT size="2">Item&nbsp;7. Exemption from Registration Claimed.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<P align="left"><FONT size="2">Item&nbsp;8. Exhibits.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed as part of this Registration Statement:
</FONT>
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        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
1996 Stock Option Plan for Officers and Key Employees (incorporated by
reference to Exhibit&nbsp;10.05 to Registrant&#146;s Form&nbsp;8-B, dated January&nbsp;9,
1997).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
First Amendment to 1996 Stock Option Plan for Officers and Key Employees
(incorporated by reference to Exhibit&nbsp;D to Registrant&#146;s Proxy Statement,
dated May&nbsp;25, 1999).</FONT></TD>
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<P align="center"><FONT size="2">4
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Specimen Certificate for Registrant&#146;s Common Stock (incorporated
by reference to Exhibit&nbsp;4.02 to Registrant&#146;s Form&nbsp;10-K for the year
ended December&nbsp;31, 1999).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Rights Agreement, dated as of November&nbsp;19, 1999, between the Registrant
and ChaseMellon Shareholder Services, L.L.C (incorporated by reference
to Exhibit&nbsp;99.2 to Registrant&#146;s Form&nbsp;8-K, filed on
November&nbsp;19, 1999).</FONT></TD>
</TR>

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        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.7</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amended and Restated Certificate of Incorporation of Registrant
(incorporated by reference to Exhibit&nbsp;99.1 to Registrant&#146;s Registration
Statement on Form&nbsp;S-3 filed on July&nbsp;16, 1999 (File
No.&nbsp;333-83069)).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.8</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Bylaws of Registrant (incorporated by reference to Exhibit&nbsp;99.2 to the
Registrant&#146;s Registration Statement on Form&nbsp;S-3 filed on July&nbsp;16, 1999
(File No.&nbsp;333-83069)).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.9</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Certificate of Designation of Series&nbsp;A Junior Participating Preferred
Stock of Registrant (incorporated by reference to Exhibit&nbsp;4.1 to
Registrant&#146;s Form&nbsp;8-K filed on November&nbsp;19, 1999).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Cooley Godward LLP.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">15.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Acknowledgement of Ernst &#038; Young LLP, Independent Auditors.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP, Independent Auditors.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Cooley Godward LLP (included in Exhibit&nbsp;5.1).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (appears on signature page).</FONT></TD>
</TR>
</TABLE>
</CENTER>
<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2">Item&nbsp;9. Undertakings.</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">&nbsp;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">a)&nbsp;The undersigned Registrant hereby undertakes 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 the Registration
Statement or any material change to such information in the Registration
Statement.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">1) That, for the purpose of determining any liability under the Securities
Act of 1933, 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.</FONT></TD>
</TR>
<TR>
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">2) 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.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">&nbsp;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">b)&nbsp;The undersigned Registrant hereby undertakes that, for the purposes of
determining any liability under the Securities Act of 1933, each filing of
the Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
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.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">&nbsp;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">c)&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act of 1933 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 Securities and
Exchange Commission 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.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">5
</FONT>

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



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="center"><FONT size="2">SIGNATURES</FONT>

<P><FONT size="2">&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 a Form&nbsp;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 Cypress, State of California, on this
3rd&nbsp;day of
July, 2002.
</FONT>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR>
        <TD width="50%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2"><FONT size="2">PACIFICARE HEALTH SYSTEMS, INC.</FONT></TD>
</TR>

<TR><TD>&nbsp;<BR>&nbsp;</TD></TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">By:&nbsp;</FONT></TD>
        <TD><FONT size="2">/s/ HOWARD G. PHANSTIEL</FONT></TD>
</TR>
<TR>
        <TD colspan="2"><FONT size="1">&nbsp;</FONT></TD>
        <TD><HR size="1" noshade color="#000000"></TD>
</TR>
<TR valign="top">
        <TD colspan="2">&nbsp;</TD>
        <TD><FONT size="2">
Howard G. Phanstiel</FONT></TD>
</TR>

<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2"><FONT size="2">Title: President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">POWER OF ATTORNEY</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENT, that each of the undersigned whose
signature appears below constitutes and appoints Howard G. Phanstiel and
Gregory W. Scott, and each of them (with full power of each of them to act
alone), his or her true and lawful attorneys-in-fact and agents, with full
power of substitution and resubstitution for him or her and on his or her
behalf, and in his or her name, place and stead, in any and all capacities to
execute and sign any and all amendments or post-effective amendments to this
Registration Statement, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite or necessary to be done in connection therewith, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorneys-in fact and agents, or any of them, or
their or his substitute or substitutes, may lawfully do or cause to be done by
virtue hereof and the Registrant hereby confers like authority on its behalf.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="12%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2"><B>Name</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>Title</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>Date</B></FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Howard G. Phanstiel
<HR size="1" noshade>
Howard G. Phanstiel</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
President and Chief Executive Officer<BR>
(Principal Executive Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Gregory W. Scott
<HR size="1" noshade>
Gregory W. Scott</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Executive Vice President and<BR>
Chief Financial Officer<BR>
(Principal Financial Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2">/s/ Susan L. Berkel
<HR size="1" noshade>
Susan L. Berkel</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Senior Vice President and<BR>
Corporate Controller<BR>
(Chief Accounting Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ David A. Reed
<HR size="1" noshade>
David A. Reed</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Chairman of the Board
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Bradley C. Call
<HR size="1" noshade>
Bradley C. Call</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Shirley S. Chater, Ph.D.
<HR size="1" noshade>
Shirley S. Chater, Ph.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Terry O. Hartshorn
<HR size="1" noshade>
Terry O. Hartshorn</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Arthur B. Laffer, Ph.D.
<HR size="1" noshade>
Arthur B. Laffer, Ph.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Gary L. Leary
<HR size="1" noshade>
Gary L. Leary</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">6
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="12%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top" align="center"><FONT size="2"><B>Name</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>Title</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>Date</B></FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Sanford M. Litvack
<HR size="1" noshade>
Sanford M. Litvack</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Warren E. Pinckert II
<HR size="1" noshade>
Warren E. Pinckert II</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top" align="center"><FONT size="2">/s/ Lloyd E. Ross
<HR size="1" noshade>
Lloyd E. Ross</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">July&nbsp;3, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">7
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2">PACIFICARE HEALTH SYSTEMS, INC.</FONT>

<P align="center"><FONT size="2">FORM S-8<BR>
REGISTRATION STATEMENT</FONT>

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2">EXHIBIT INDEX</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
1996 Stock Option Plan for Officers and Key Employees (incorporated
by reference to Exhibit&nbsp;10.05 to Registrant&#146;s Form&nbsp;8-B, dated January
9, 1997).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
First Amendment to 1996 Stock Option Plan for Officers and Key
Employees (incorporated by reference to Exhibit&nbsp;D to Registrant&#146;s
Proxy Statement, dated May&nbsp;25, 1999).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Specimen Certificate for Registrant&#146;s Common Stock
(incorporated by reference to Exhibit&nbsp;4.02 to Registrant&#146;s Form&nbsp;10-K
for the year ended December&nbsp;31, 1999).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Rights Agreement, dated as of November&nbsp;19, 1999, between the
Registrant and ChaseMellon Shareholder Services, L.L.C (incorporated
by reference to Exhibit&nbsp;99.2 to Registrant&#146;s Form&nbsp;8-K, filed on
November&nbsp;19, 1999).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.7</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amended and Restated Certificate of Incorporation of Registrant
(incorporated by reference to Exhibit&nbsp;99.1 to Registrant&#146;s
Registration Statement on Form&nbsp;S-3 filed on July&nbsp;16, 1999 (File No.
333-83069)).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.8</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Bylaws of Registrant (incorporated by reference to Exhibit&nbsp;99.2 to
the Registrant&#146;s Registration Statement on Form&nbsp;S-3 filed on July&nbsp;16,
1999 (File No.&nbsp;333-83069)).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;4.9</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Certificate of Designation of Series&nbsp;A Junior Participating Preferred
Stock of Registrant (incorporated by reference to Exhibit&nbsp;4.1 to
Registrant&#146;s Form&nbsp;8-K filed on November&nbsp;19, 1999).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Cooley Godward LLP.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">15.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Acknowledgement of Ernst &#038; Young LLP, Independent Auditors.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP, Independent Auditors.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Cooley Godward LLP (included in Exhibit&nbsp;5.1).</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (appears on signature page).</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">8
</FONT>

</BODY>
</HTML>
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{"company-data": {"conformed-name": "PACIFICARE HEALTH SYSTEMS INC /DE/", "cik": "0001027974", "assigned-sic": "6324", "irs-number": "954591529", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-91984", "film-number": "02696738"}, "business-address": {"street1": "3120 LAKE CENTER DRIVE", "city": "SANTA ANA", "state": "CA", "zip": "92704", "phone": "7148255200"}, "mail-address": {"street1": "3120 LAKE CENTER DRIVE", "city": "SANTA ANA", "state": "CA", "zip": "92704"}, "former-company": {"former-conformed-name": "N T HOLDINGS INC", "date-changed": "19961204"}}
Form S-8 for PacifiCare Health Systems
Table of Contents
As filed with the Securities and
Exchange Commission on July 3, 2002
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PACIFICARE HEALTH SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
95-4591529
(I.R.S. Employer Identification No.)
5757 Plaza Street, Cypress, California 90630
(Address of principal executive offices)
1996 Stock Option Plan for Officers and Key Employees, as amended
(Full titles of the plan)
Joseph S. Konowiecki, Esq.
General Counsel and Secretary
PacifiCare Health Systems, Inc.
5757 Plaza Street
Cypress, California 90630
(714) 226-3000
(Name, address and telephone number, including area code, of agent for service)
Copies to:
Barbara Borden, Esq.
Cooley Godward LLP
4401 Eastgate Mall
San Diego, California 92121
(858) 550-6000
TABLE OF CONTENTS
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interest of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 5.1
EXHIBIT 15.1
EXHIBIT 23.1
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CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities to
Amount to be
Offering Price Per
Aggregate Offering
Amount of
be Registered
Registered
Share
Price
Registration Fee
Common Stock, par
value $0.01 per
share, including
related rights to
purchase Series A
junior participating
preferred stock(1)
709,892
$
26.71
(2)
$
18,961,215
(2)
$
1,744
(1)
Underlying shares of Common Stock issuable under PacifiCare's 1996
Stock Option Plan for Officers and Key Employees, as amended. Pursuant
to Rule 416(a) under the Securities Act of 1933, as amended, this
Registration Statement shall also cover any additional shares of Common
Stock that become issuable under the Plan by reason of any stock
dividend, stock split, recapitalization or other similar transaction
effected without receipt of consideration that increases the number of
outstanding shares of Common Stock.
(2)
Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(h), on the basis of the average of the high and low
prices of the Registrant's Common Stock as reported on the Nasdaq
National Market System on a date within five business days of the filing
hereof with respect to the shares being registered.
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PART II
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
Item 3. Incorporation of
Documents by Reference.
The following documents which have been filed by PacifiCare Health
Systems, Inc., a Delaware corporation (the "Registrant") with the Securities
and Exchange Commission, or SEC, are incorporated herein by reference:
a) The Registrant's Annual Report on Form 10-K for the fiscal year ended
December 31, 2001 (the "Form 10-K"), which is the Registrant's latest Annual
Report on Form 10-K filed pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 (the "Exchange Act") and which contains
audited financial statements for the Registrant's latest fiscal year for
which a Form 10-K was required to have been filed.
b) The Registrant's Quarterly Reports on Form 10-Q for the quarter ended
March 31, 2002.
c) The Registrant's Current Reports on Form 8-K filed on January 10, 2002,
May 3, 2002, May 14, 2002, May 16, 2002 and
May 17, 2002.
d) The description of the Registrant's common stock, set forth in a
Registration Statement on Form 8-B filed by the Registrant as N-T Holdings,
Inc., our former name, on January 9, 1997, as amended by the Form 8-A filed
by the Registrant with the SEC on December 4, 2001.
All documents subsequently filed by the Registrant or the Plan pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this registration statement and to be
a part hereof from the date of filing of such documents.
Item 4. Description of Securities.
The Registrant's certificate of incorporation authorizes the Registrant to
issue 200,000,000 shares of common stock, par value $0.01 per share and
40,000,000 shares of preferred stock, par value $0.01 per share. As of June 28,
2002, approximately 35,495,000 shares of common stock were outstanding and no
shares of preferred stock were outstanding.
COMMON STOCK
VOTING. Common stockholders are entitled to one (1) vote per share for the
election of directors and on all other matters that require stockholder
approval.
DIVIDENDS AND OTHER DISTRIBUTIONS. Holders of the Registrant's common
stock are entitled to share in an equal amount per share in any dividends
declared by the Registrant's board of directors and paid out of legally
available assets.
DISTRIBUTION ON DISSOLUTION. Subject to any preferential rights of any
outstanding preferred stock, in the event of the Registrant's liquidation,
dissolution or winding up, holders of the Registrant's common stock are
entitled to share ratably in the assets remaining after payment of liabilities
and the liquidation preferences of any outstanding preferred stock.
OTHER RIGHTS. The Registrant's common stock does not carry any preemptive
or redemptive rights enabling a holder to subscribe for, or receive shares of,
any class of the Registrant's common stock or any other securities convertible
into shares of any class of the Registrant's common stock.
PREFERRED STOCK
Under the Registrant's Amended and Restated Certificate of Incorporation, the
Registrant's board of directors has the authority, without further action by
stockholders, to designate up to 40,000,000 shares of preferred stock in one or
more series and to fix the
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rights, preferences, privileges, qualifications and restrictions granted to, or
imposed upon, the preferred stock, including dividend rights, conversion
rights, voting rights, rights and terms of redemption, liquidation preference
and sinking fund terms, any and all of which may be greater than the rights of
the common stock. The issuance of preferred stock could adversely affect the
voting power of holders of common stock and reduce the likelihood that common
stockholders will receive dividend payments and payments upon liquidation. The
issuance of preferred stock could have the effect of decreasing the market
price of the common stock. The issuance of preferred stock also could have the
effect of delaying, deterring or preventing a change in control of the
Registrant.
STOCKHOLDER RIGHTS AGREEMENT
In November 1999, the Registrant's board of directors adopted a
stockholder rights agreement to protect stockholder rights in the event of a
proposed takeover. The board of directors declared a dividend of one right for
each share of the Registrant's common stock outstanding as of November 19,
1999. The right entitles the registered holder to purchase from the Registrant
1/100th of a share of Series A junior participating preferred stock at a price
of $180 per 1/100th of a preferred share. Similar rights will generally be
issued in respect of common stock issued after November 19, 1999.
Item 5. Interest of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Under Section 145 of the Delaware General Corporation Law, the Registrant
has broad powers to indemnify its directors and officers against liabilities
they may incur in such capacities, including liabilities under the Securities
Act of 1933, as amended (the "Securities Act"). The Registrant's bylaws provide
that the Registrant will indemnify its directors, officers, employees or agents
in a manner consistent with the provisions of the Delaware General Corporation
Law.
In addition, the Registrant's certificate of incorporation provides that,
pursuant to Delaware law, its directors shall not be liable for monetary
damages for breach of the directors' fiduciary duty of care to the Registrant
and its stockholders. This provision in the certificate of incorporation does
not eliminate the duty of care, and in appropriate circumstances equitable
remedies such as injunctive or other forms of non-monetary relief will remain
available under Delaware law. In addition, each director will continue to be
subject to liability for breach of the director's duty of loyalty to the
Registrant, for acts or omissions not in good faith or involving intentional
misconduct or a knowing violation of law, for actions leading to improper
personal benefit to the director, and for payment of dividends or approval of
stock repurchases or redemptions that are unlawful under Delaware law. The
provision also does not affect a director's responsibilities under any other
law, such as the federal securities laws or state or federal environmental
laws.
The Registrant maintains a policy providing directors' and officers'
liability insurance, which insures directors and officers of the Registrant in
certain circumstances.
Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers or persons controlling the
Registrant pursuant to the foregoing provisions, the Registrant has been
informed that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
The following exhibits are filed as part of this Registration Statement:
4.1
1996 Stock Option Plan for Officers and Key Employees (incorporated by
reference to Exhibit 10.05 to Registrant's Form 8-B, dated January 9,
1997).
4.2
First Amendment to 1996 Stock Option Plan for Officers and Key Employees
(incorporated by reference to Exhibit D to Registrant's Proxy Statement,
dated May 25, 1999).
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4.5
Form of Specimen Certificate for Registrant's Common Stock (incorporated
by reference to Exhibit 4.02 to Registrant's Form 10-K for the year
ended December 31, 1999).
4.6
Rights Agreement, dated as of November 19, 1999, between the Registrant
and ChaseMellon Shareholder Services, L.L.C (incorporated by reference
to Exhibit 99.2 to Registrant's Form 8-K, filed on
November 19, 1999).
4.7
Amended and Restated Certificate of Incorporation of Registrant
(incorporated by reference to Exhibit 99.1 to Registrant's Registration
Statement on Form S-3 filed on July 16, 1999 (File
No. 333-83069)).
4.8
Bylaws of Registrant (incorporated by reference to Exhibit 99.2 to the
Registrant's Registration Statement on Form S-3 filed on July 16, 1999
(File No. 333-83069)).
4.9
Certificate of Designation of Series A Junior Participating Preferred
Stock of Registrant (incorporated by reference to Exhibit 4.1 to
Registrant's Form 8-K filed on November 19, 1999).
5.1
Opinion of Cooley Godward LLP.
15.1
Acknowledgement of Ernst & Young LLP, Independent Auditors.
23.1
Consent of Ernst & Young LLP, Independent Auditors.
23.2
Consent of Cooley Godward LLP (included in Exhibit 5.1).
24.1
Power of Attorney (appears on signature page).
Item 9. Undertakings.
a) The undersigned Registrant hereby undertakes 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 the Registration
Statement or any material change to such information in the Registration
Statement.
1) That, for the purpose of determining any liability under the Securities
Act of 1933, 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.
2) 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 undersigned Registrant hereby undertakes that, for the purposes of
determining any liability under the Securities Act of 1933, each filing of
the Registrant's annual report pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
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 of 1933 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 Securities and
Exchange Commission 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.
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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 a 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 Cypress, State of California, on this
3rd day of
July, 2002.
PACIFICARE HEALTH SYSTEMS, INC.
By:
/s/ HOWARD G. PHANSTIEL
Howard G. Phanstiel
Title: President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENT, that each of the undersigned whose
signature appears below constitutes and appoints Howard G. Phanstiel and
Gregory W. Scott, and each of them (with full power of each of them to act
alone), his or her true and lawful attorneys-in-fact and agents, with full
power of substitution and resubstitution for him or her and on his or her
behalf, and in his or her name, place and stead, in any and all capacities to
execute and sign any and all amendments or post-effective amendments to this
Registration Statement, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite or necessary to be done in connection therewith, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorneys-in fact and agents, or any of them, or
their or his substitute or substitutes, may lawfully do or cause to be done by
virtue hereof and the Registrant hereby confers like authority on its behalf.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated.
Name
Title
Date
/s/ Howard G. Phanstiel
Howard G. Phanstiel
President and Chief Executive Officer
(Principal Executive Officer)
July 3, 2002
/s/ Gregory W. Scott
Gregory W. Scott
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
July 3, 2002
/s/ Susan L. Berkel
Susan L. Berkel
Senior Vice President and
Corporate Controller
(Chief Accounting Officer)
July 3, 2002
/s/ David A. Reed
David A. Reed
Chairman of the Board
July 3, 2002
/s/ Bradley C. Call
Bradley C. Call
Director
July 3, 2002
/s/ Shirley S. Chater, Ph.D.
Shirley S. Chater, Ph.D.
Director
July 3, 2002
/s/ Terry O. Hartshorn
Terry O. Hartshorn
Director
July 3, 2002
/s/ Arthur B. Laffer, Ph.D.
Arthur B. Laffer, Ph.D.
Director
July 3, 2002
/s/ Gary L. Leary
Gary L. Leary
Director
July 3, 2002
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Name
Title
Date
/s/ Sanford M. Litvack
Sanford M. Litvack
Director
July 3, 2002
/s/ Warren E. Pinckert II
Warren E. Pinckert II
Director
July 3, 2002
/s/ Lloyd E. Ross
Lloyd E. Ross
Director
July 3, 2002
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PACIFICARE HEALTH SYSTEMS, INC.
FORM S-8
REGISTRATION STATEMENT
EXHIBIT INDEX
Exhibit
4.1
1996 Stock Option Plan for Officers and Key Employees (incorporated
by reference to Exhibit 10.05 to Registrant's Form 8-B, dated January
9, 1997).
4.2
First Amendment to 1996 Stock Option Plan for Officers and Key
Employees (incorporated by reference to Exhibit D to Registrant's
Proxy Statement, dated May 25, 1999).
4.5
Form of Specimen Certificate for Registrant's Common Stock
(incorporated by reference to Exhibit 4.02 to Registrant's Form 10-K
for the year ended December 31, 1999).
4.6
Rights Agreement, dated as of November 19, 1999, between the
Registrant and ChaseMellon Shareholder Services, L.L.C (incorporated
by reference to Exhibit 99.2 to Registrant's Form 8-K, filed on
November 19, 1999).
4.7
Amended and Restated Certificate of Incorporation of Registrant
(incorporated by reference to Exhibit 99.1 to Registrant's
Registration Statement on Form S-3 filed on July 16, 1999 (File No.
333-83069)).
4.8
Bylaws of Registrant (incorporated by reference to Exhibit 99.2 to
the Registrant's Registration Statement on Form S-3 filed on July 16,
1999 (File No. 333-83069)).
4.9
Certificate of Designation of Series A Junior Participating Preferred
Stock of Registrant (incorporated by reference to Exhibit 4.1 to
Registrant's Form 8-K filed on November 19, 1999).
5.1
Opinion of Cooley Godward LLP.
15.1
Acknowledgement of Ernst & Young LLP, Independent Auditors.
23.1
Consent of Ernst & Young LLP, Independent Auditors.
23.2
Consent of Cooley Godward LLP (included in Exhibit 5.1).
24.1
Power of Attorney (appears on signature page).
8