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<TITLE>form s-8</TITLE>
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<B><FONT SIZE=2><P ALIGN="CENTER">As filed with the Securities and Exchange
Commission on May 27, 2004.</P>
<dir><dir><dir><dir><dir><dir><dir><dir><dir><dir><dir><dir><dir>
<P>Registration No.&nbsp;333-</P>
</dir></dir></dir></dir></dir></dir></dir></dir></dir></dir></dir></dir></dir>
<P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">SIERRA HEALTH SERVICES,&nbsp;INC.</B><BR>
(Exact name of registrant as specified in its charter)</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">NEVADA<BR>
</B>(State or other jurisdiction of incorporation or organization)</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">88-0200415</B><BR>
(I.R.S. Employer Identification No.)</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">2724 North Tenaya Way<BR>
Las Vegas, Nevada 89128</B><BR>
(Address, including zip code, of Principal Executive Offices)</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">SIERRA HEALTH SERVICES,&nbsp;INC.<BR>
AMENDED AND RESTATED 1985 EMPLOYEE STOCK PURCHASE PLAN<br>
</B>(Full title of the plans)</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">Frank E. Collins, Esquire<BR>
Senior Vice President, Legal and Administration<BR>
Sierra Health Services,&nbsp;Inc.<BR>
2724 North Tenaya Way<BR>
Las Vegas, Nevada 89128<BR>
(702)&nbsp;242-7000<BR>
</B>(Name, address and telephone number, including area code, of agent for
service)</P>
<p>&nbsp;</p>
<B><P ALIGN="CENTER">CALCULATION OF REGISTRATION FEE</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=664>


<TR><TD WIDTH="35%" VALIGN="BOTTOM">
<B><FONT SIZE=2><P ALIGN="CENTER">Title of Securities<BR>
to be Registered(1)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<B><FONT SIZE=2><P ALIGN="CENTER">Amount to<BR>
be Registered(1)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<B><FONT SIZE=2><P ALIGN="CENTER">Proposed Maximum<BR>
Offering Price<BR>
Per Unit</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<B><FONT SIZE=2><P ALIGN="CENTER">Proposed Maximum<BR>
Aggregate<BR>
Offering Price</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM">
<B><FONT SIZE=2><P ALIGN="CENTER">Amount of<BR>
Registration Fee</B></FONT></TD>
</TR>
<TR><TD VALIGN="BOTTOM" COLSPAN=9>&nbsp;</TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Common Stock, $0.005 par value</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="CENTER">900,000 shares</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="CENTER">$41.25 (2)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="CENTER">$37,125,000</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="CENTER">$4,703.74 (3)</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2>
<P>------------</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) This registration statement (the "Registration Statement") registers
the offer and sale of up to 900,000 shares of Common Stock of Sierra Health
Services,&nbsp;Inc., a Nevada corporation (the "Company"), which may be offered
and sold from time to time pursuant to the Company's Amended and Restated 1985
Employee Stock Purchase Plan. Pursuant to Rule&nbsp;416(a), the number of shares
being registered shall be adjusted to include any additional shares which may
become issuable as a result of stock splits, stock dividends or similar
transactions in accordance with the anti-dilution provisions of the Plan.
Attached to the Common Stock are certain rights to purchase Series&nbsp;A Junior
Participating Preferred Stock upon the occurrence of specified events.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Estimated pursuant to paragraphs (c) and (h) of Rule 457 solely for
the purpose of calculating the registration fee, based upon the average of the
reported high and low sales prices for shares of Common Stock on May 24, 2004,
as reported on the composite tape for New York Stock Exchange-listed
securities.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)  Calculated pursuant to Section 6(b) of the Securities Act of 1933,
as amended, as follows: $126.70 per $1 million of proposed maximum aggregate
offering price.</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">PART I</P>

<P ALIGN="CENTER">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>


<P>Item 1.&nbsp;  Plan Information.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omitted as permitted pursuant to Rule 428 and Form S-8.</P>

<P>Item 2.&nbsp;  Registrant Information.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omitted as permitted pursuant to Rule 428 and Form S-8.</P>

<P> </P>


<P ALIGN="CENTER">PART II</P>



<P ALIGN="CENTER">INFORMATION REQUIRED IN REGISTRATION<BR>
STATEMENT AND NOT REQUIRED IN PROSPECTUS</P>


<P>Item 3.&nbsp;  Incorporation of Documents by Reference</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby incorporates by reference into this Registration
Statement the following documents filed with the Securities and Exchange
Commission (the "Commission"):</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's Annual Report on Form 10-K for the Company's fiscal
year ended December 31, 2003, filed pursuant to Section 13(a) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act").</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's Quarterly Report on Form 10-Q for the Company's
fiscal quarter ended March 31, 2004, filed pursuant to Section 13(a) of the
Exchange Act.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company's Current Reports on Form 8-K filed with the
Commission since December 31, 2003 pursuant to Section 13(a) of the Exchange
Act, but excluding any Form 8-K that was "furnished to" but not "filed" with the
Commission.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of the Common Stock of the Company contained in
the Company's Registration Statement on Form 8-A filed pursuant to the Exchange
Act on March 31, 1994, and effective on April 14, 1994, including any other
amendment or report filed for the purpose of updating such description.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of certain rights attaching to the Company's
Common Stock to purchase Series A Junior Participating Preferred Stock contained
in the Company's Registration Statement on Form 8-A filed pursuant to the
Exchange Act on July 1, 1994, including any other amendment or report filed for
the purpose of updating such description.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and other documents subsequently filed by the Company with
the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange
Act after the date of this Registration Statement, but prior to the filing of a
post-effective amendment to this Registration Statement which indicates that all
securities offered by this Registration Statement have been sold or which
deregisters all such securities then remaining unsold, shall be deemed to be
incorporated by reference into this Registration Statement.  Each document
incorporated by reference into this Registration Statement shall be deemed to be
a part of this Registration Statement, from the date of the filing of such
document with the Commission until the information contained therein is
superseded or updated by any subsequently filed document which is incorporated
by reference into the Registration Statement.  Any Form 8-K "furnished" to, but
not "filed" with, the Commission after the date of this Registration Statement
shall not be deemed to be incorporated by reference into this Registration
Statement.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in a document incorporated or deemed to be
incorporated in this Registration Statement by reference shall be deemed to be
modified or superseded for purposes of this Registration Statement to the extent
that a statement contained in this Registration Statement or in any other
subsequently filed document which also is or is deemed to be incorporated in
this Registration Statement by reference modifies or supersedes such statement.
Any statement so modified shall not be deemed in its unmodified form, and any
statement so superseded shall not be deemed, to constitute a part of this
Registration Statement.</P>

<P>Item 4.&nbsp;  Description of Securities</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</P>

<P>Item 5.&nbsp;  Interests of Named Experts and Counsel</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</P>

<P>Item 6.&nbsp;  Indemnification of Directors and Officers</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 78.751 of the Nevada Domestic and Foreign Corporation Law and
Article VII of the Company's By-Laws provide for the indemnification under
certain conditions of directors, officers, employees and agents acting in
their
official capacities.  The Company has not entered into separate
indemnification agreements with any of its officers or directors.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has purchased directors' and officers' liability insurance
insuring the Company's officers and directors against certain liabilities and
expenses incurred by such persons in such capacities.</P>

<P>Item 7.&nbsp; Exemption from Registration</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</P>

<P>Item 8.&nbsp;  Exhibits</P>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>Exhibit</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Description</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>4.1 </FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Restated Articles of Incorporation, as amended through September 10, 2003, incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003.</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>4.2</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Amended and Restated By-Laws of the Company, incorporated by reference to Exhibit 3.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>4.3 </FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Rights Agreement, dated as of June 14, 1994 between the Company and Continental Stock Transfer &amp; Trust Company, incorporated by
reference to Exhibit 3.4 to the Company's Registration Statement on Form S-3 effective October 11, 1994 (Reg. No. 33-83664).</FONT></TD>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>4.4</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Rights Agreement, dated as of June 14, 1994, amended as of August 10, 2000, between the Registrant and Wells Fargo Bank Minnesota, N.A., incorporated by
reference to Exhibit 3.4 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.</FONT></TD>
</TR>


<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>5</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Opinion of Frank E. Collins,  Esq.,  with respect to the legality of securities being registered. </FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>15 </FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Not applicable.</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>23.1 </FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Consent of Deloitte &amp; Touche LLP.</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>23.2</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Consent of Frank E. Collins, Esq. (included in Exhibit 5).</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>24 </FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Powers of Attorney (included on the signature pages of this Registration Statement).</FONT></TD>
</TR>



<TR><TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>99 </FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Not applicable.</FONT></TD>
</TR>
</TABLE>

<P>Item 9.&nbsp; Undertakings</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes:</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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:</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;  To include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933;</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;  To reflect in the Prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the Registration
Statement; notwithstanding the foregoing, any increase or decrease in the volume
of securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective registration statement.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;  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 the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if
this Registration Statement is on Form S-3 or Form S-8, and the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed by the registrant pursuant to Section 13 or
Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in this Registration Statement.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;  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.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes that, for 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 Section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 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.
</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)  &nbsp;&nbsp;&nbsp;&nbsp;&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.</P>

<P>&nbsp;</P>
<P ALIGN="CENTER">       <BR>
<B>SIGNATURES </P>
</B><I><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant.</I>&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&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 Las Vegas, Nevada, on May
27, 2004. </P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=664>
<TR><TD WIDTH="46%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="51%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P>SIERRA HEALTH SERVICES, INC.</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<FONT SIZE=2><P><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P><BR>
&nbsp;</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP">
<FONT SIZE=2><P><BR>
&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>By:</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP">
<FONT SIZE=2><P><U>/s/&nbsp;&nbsp;ANTHONY M. MARLON,
M.D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
Anthony M. Marlon, M.D.<BR>
Chairman of the Board, Chief Executive Officer and President</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P>&nbsp;</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS,
that each person whose signature appears below constitutes and appoints Anthony
M. Marlon, M.D., Frank E. Collins and Paul H. Palmer, and each of them, as his
or her true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any and all amendments (including
post-effective amendments) and supplements to this Registration Statement, and
to file the same with the 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 and 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 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 below by the following persons
in the capacities and on the dates indicated. </P>
</FONT>

<TABLE CELLSPACING=0 BORDER=0 WIDTH=679>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;ANTHONY M. MARLON, M.D.&nbsp; <br>
</U>Anthony M. Marlon, M.D.</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Chairman of the Board, Chief Executive Officer, President and Director (principal executive officer)</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"> May 27, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;PAUL H. PALMER&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  <br>
</U>Paul H. Palmer</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Senior Vice President, Chief Financial Officer, and Treasurer (principal financial officer and accounting officer)</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004<BR>
 </FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;ERIN E. MACDONALD&nbsp;     &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
</U>Erin E. MacDonald</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004</P>
<P ALIGN="RIGHT"></FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;THOMAS Y. HARTLEY&nbsp;&nbsp;&nbsp;&nbsp;   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  <br>
</U>Thomas Y. Hartley</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004</P>
<P ALIGN="RIGHT"> </FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;WILLIAM J. RAGGIO&nbsp;&nbsp;&nbsp;&nbsp;      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  <br>
</U>William J. Raggio</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004</P>
<P ALIGN="RIGHT"> </FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;CHARLES L. RUTHE&nbsp;&nbsp;&nbsp;&nbsp;      &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
</U>Charles L. Ruthe</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004</P>
<P ALIGN="RIGHT"></FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;ANTHONY L. WATSON&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
</U>Anthony L. Watson</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004</P>
<P ALIGN="RIGHT"></FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;ALBERT L. GREENE&nbsp;&nbsp;    &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  <br>
</U>Albert L. Greene</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004 </P>
<P ALIGN="RIGHT"></FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<U><FONT SIZE=2><P>/s/&nbsp;&nbsp;MICHAEL E. LUCE&nbsp;&nbsp;&nbsp;        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
</U>Michael E. Luce</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">May 27, 2004 </P>
<P ALIGN="RIGHT"></FONT></TD>
</TR>
</TABLE>



<FONT SIZE=2>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">EXHIBIT INDEX</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=709>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;<br>
Exhibit</P></font></TD>
<TD WIDTH="70%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;<br>
Description</P></FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">Sequentially<br>
Numbered Page</P></FONT></TD></TR>
</table>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=709>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>4.1 </FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Restated Articles of Incorporation, as amended through September 10, 2003, incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003.</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>4.2</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Amended and Restated By-Laws of the Company, incorporated by reference to Exhibit 3.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>4.3 </FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Rights Agreement, dated as of June 14, 1994 between the Company and Continental Stock Transfer &amp; Trust Company, incorporated by reference to
Exhibit 3.4 to the Company's Registration Statement on Form S-3 effective October 11, 1994 (Reg. No. 33-83664).</font> </td>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>4.4</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Rights Agreement, dated as of June 14, 1994, amended as of August 10, 2000, between the Registrant and Wells Fargo Bank Minnesota, N.A., incorporated by reference to
Exhibit 3.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>5</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Opinion of Frank E. Collins,  Esq.,  with respect to the legality of securities being registered. </FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>23.1</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Consent of Deloitte &amp; Touche LLP.</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>23.2</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Consent of Frank E. Collins, Esq. (included in Exhibit 5).</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>24</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=2><P>Powers of Attorney (included on the signature pages of this Registration Statement).</FONT></TD>
</TR>
</TABLE>


<P ALIGN="RIGHT">&nbsp;</P></DIR>
</DIR>
</DIR>
</DIR>
</DIR>
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{"company-data": {"conformed-name": "SIERRA HEALTH SERVICES INC", "cik": "0000754009", "assigned-sic": "6324", "irs-number": "880200415", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-115964", "film-number": "04836302"}, "business-address": {"street1": "2724 N TENAYA WAY", "city": "LAS VEGAS", "state": "NV", "zip": "89128", "phone": "7022427000"}, "mail-address": {"street1": "2724 NORTH TENAYA WAY", "street2": "2724 NORTH TENAYA WAY", "city": "LAS VEGAS", "state": "NV", "zip": "89128"}}
form s-8
As filed with the Securities and Exchange
Commission on May 27, 2004.
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SIERRA HEALTH SERVICES, INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or other jurisdiction of incorporation or organization)
88-0200415
(I.R.S. Employer Identification No.)
2724 North Tenaya Way
Las Vegas, Nevada 89128
(Address, including zip code, of Principal Executive Offices)
SIERRA HEALTH SERVICES, INC.
AMENDED AND RESTATED 1985 EMPLOYEE STOCK PURCHASE PLAN
(Full title of the plans)
Frank E. Collins, Esquire
Senior Vice President, Legal and Administration
Sierra Health Services, Inc.
2724 North Tenaya Way
Las Vegas, Nevada 89128
(702) 242-7000
(Name, address and telephone number, including area code, of agent for
service)
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered(1)
Amount to
be Registered(1)
Proposed Maximum
Offering Price
Per Unit
Proposed Maximum
Aggregate
Offering Price
Amount of
Registration Fee
Common Stock, $0.005 par value
900,000 shares
$41.25 (2)
$37,125,000
$4,703.74 (3)
------------
(1) This registration statement (the "Registration Statement") registers
the offer and sale of up to 900,000 shares of Common Stock of Sierra Health
Services, Inc., a Nevada corporation (the "Company"), which may be offered
and sold from time to time pursuant to the Company's Amended and Restated 1985
Employee Stock Purchase Plan. Pursuant to Rule 416(a), the number of shares
being registered shall be adjusted to include any additional shares which may
become issuable as a result of stock splits, stock dividends or similar
transactions in accordance with the anti-dilution provisions of the Plan.
Attached to the Common Stock are certain rights to purchase Series A Junior
Participating Preferred Stock upon the occurrence of specified events.
(2) Estimated pursuant to paragraphs (c) and (h) of Rule 457 solely for
the purpose of calculating the registration fee, based upon the average of the
reported high and low sales prices for shares of Common Stock on May 24, 2004,
as reported on the composite tape for New York Stock Exchange-listed
securities.
(3)  Calculated pursuant to Section 6(b) of the Securities Act of 1933,
as amended, as follows: $126.70 per $1 million of proposed maximum aggregate
offering price.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.   Plan Information.
Omitted as permitted pursuant to Rule 428 and Form S-8.
Item 2.   Registrant Information.
Omitted as permitted pursuant to Rule 428 and Form S-8.
PART II
INFORMATION REQUIRED IN REGISTRATION
STATEMENT AND NOT REQUIRED IN PROSPECTUS
Item 3.   Incorporation of Documents by Reference
The Company hereby incorporates by reference into this Registration
Statement the following documents filed with the Securities and Exchange
Commission (the "Commission"):
(a)           The Company's Annual Report on Form 10-K for the Company's fiscal
year ended December 31, 2003, filed pursuant to Section 13(a) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
(b)           The Company's Quarterly Report on Form 10-Q for the Company's
fiscal quarter ended March 31, 2004, filed pursuant to Section 13(a) of the
Exchange Act.
(c)           Each of the Company's Current Reports on Form 8-K filed with the
Commission since December 31, 2003 pursuant to Section 13(a) of the Exchange
Act, but excluding any Form 8-K that was "furnished to" but not "filed" with the
Commission.
(d)           The description of the Common Stock of the Company contained in
the Company's Registration Statement on Form 8-A filed pursuant to the Exchange
Act on March 31, 1994, and effective on April 14, 1994, including any other
amendment or report filed for the purpose of updating such description.
(e)           The description of certain rights attaching to the Company's
Common Stock to purchase Series A Junior Participating Preferred Stock contained
in the Company's Registration Statement on Form 8-A filed pursuant to the
Exchange Act on July 1, 1994, including any other amendment or report filed for
the purpose of updating such description.
All reports and other documents subsequently filed by the Company with
the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange
Act after the date of this Registration Statement, but prior to the filing of a
post-effective amendment to this Registration Statement which indicates that all
securities offered by this Registration Statement have been sold or which
deregisters all such securities then remaining unsold, shall be deemed to be
incorporated by reference into this Registration Statement.  Each document
incorporated by reference into this Registration Statement shall be deemed to be
a part of this Registration Statement, from the date of the filing of such
document with the Commission until the information contained therein is
superseded or updated by any subsequently filed document which is incorporated
by reference into the Registration Statement.  Any Form 8-K "furnished" to, but
not "filed" with, the Commission after the date of this Registration Statement
shall not be deemed to be incorporated by reference into this Registration
Statement.
Any statement contained in a document incorporated or deemed to be
incorporated in this Registration Statement by reference shall be deemed to be
modified or superseded for purposes of this Registration Statement to the extent
that a statement contained in this Registration Statement or in any other
subsequently filed document which also is or is deemed to be incorporated in
this Registration Statement by reference modifies or supersedes such statement.
Any statement so modified shall not be deemed in its unmodified form, and any
statement so superseded shall not be deemed, to constitute a part of this
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
Section 78.751 of the Nevada Domestic and Foreign Corporation Law and
Article VII of the Company's By-Laws provide for the indemnification under
certain conditions of directors, officers, employees and agents acting in
their
official capacities.  The Company has not entered into separate
indemnification agreements with any of its officers or directors.
The Company has purchased directors' and officers' liability insurance
insuring the Company's officers and directors against certain liabilities and
expenses incurred by such persons in such capacities.
Item 7.  Exemption from Registration
Not applicable.
Item 8.   Exhibits
Exhibit
Description
4.1
Restated Articles of Incorporation, as amended through September 10, 2003, incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003.
4.2
Amended and Restated By-Laws of the Company, incorporated by reference to Exhibit 3.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
4.3
Rights Agreement, dated as of June 14, 1994 between the Company and Continental Stock Transfer & Trust Company, incorporated by
reference to Exhibit 3.4 to the Company's Registration Statement on Form S-3 effective October 11, 1994 (Reg. No. 33-83664).
4.4
Rights Agreement, dated as of June 14, 1994, amended as of August 10, 2000, between the Registrant and Wells Fargo Bank Minnesota, N.A., incorporated by
reference to Exhibit 3.4 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
5
Opinion of Frank E. Collins,  Esq.,  with respect to the legality of securities being registered.
15
Not applicable.
23.1
Consent of Deloitte & Touche LLP.
23.2
Consent of Frank E. Collins, Esq. (included in Exhibit 5).
24
Powers of Attorney (included on the signature pages of this Registration Statement).
99
Not applicable.
Item 9.  Undertakings
(a)          The undersigned 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:
(i)   To include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933;
(ii)   To reflect in the Prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the Registration
Statement; notwithstanding the foregoing, any increase or decrease in the volume
of securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective registration statement.
(iii)   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 the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if
this Registration Statement is on Form S-3 or Form S-8, and the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed by the registrant pursuant to Section 13 or
Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in this Registration Statement.
(2)   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.
(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 undersigned registrant hereby undertakes that, for 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 Section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 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.
SIGNATURES
The
Registrant.
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 Las Vegas, Nevada, on May
27, 2004.
SIERRA HEALTH SERVICES, INC.
By:
/s/  ANTHONY M. MARLON,
M.D.
Anthony M. Marlon, M.D.
Chairman of the Board, Chief Executive Officer and President
KNOW ALL PERSONS BY THESE PRESENTS,
that each person whose signature appears below constitutes and appoints Anthony
M. Marlon, M.D., Frank E. Collins and Paul H. Palmer, and each of them, as his
or her true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any and all amendments (including
post-effective amendments) and supplements to this Registration Statement, and
to file the same with the 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 and 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 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 below by the following persons
in the capacities and on the dates indicated.
/s/  ANTHONY M. MARLON, M.D.
Anthony M. Marlon, M.D.
Chairman of the Board, Chief Executive Officer, President and Director (principal executive officer)
May 27, 2004
/s/  PAUL H. PALMER
Paul H. Palmer
Senior Vice President, Chief Financial Officer, and Treasurer (principal financial officer and accounting officer)
May 27, 2004
/s/  ERIN E. MACDONALD
Erin E. MacDonald
Director
May 27, 2004
/s/  THOMAS Y. HARTLEY
Thomas Y. Hartley
Director
May 27, 2004
/s/  WILLIAM J. RAGGIO
William J. Raggio
Director
May 27, 2004
/s/  CHARLES L. RUTHE
Charles L. Ruthe
Director
May 27, 2004
/s/  ANTHONY L. WATSON
Anthony L. Watson
Director
May 27, 2004
/s/  ALBERT L. GREENE
Albert L. Greene
Director
May 27, 2004
/s/  MICHAEL E. LUCE
Michael E. Luce
Director
May 27, 2004
EXHIBIT INDEX
Exhibit
Description
Sequentially
Numbered Page
4.1
Restated Articles of Incorporation, as amended through September 10, 2003, incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003.
4.2
Amended and Restated By-Laws of the Company, incorporated by reference to Exhibit 3.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
4.3
Rights Agreement, dated as of June 14, 1994 between the Company and Continental Stock Transfer & Trust Company, incorporated by reference to
Exhibit 3.4 to the Company's Registration Statement on Form S-3 effective October 11, 1994 (Reg. No. 33-83664).
4.4
Rights Agreement, dated as of June 14, 1994, amended as of August 10, 2000, between the Registrant and Wells Fargo Bank Minnesota, N.A., incorporated by reference to
Exhibit 3.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
5
Opinion of Frank E. Collins,  Esq.,  with respect to the legality of securities being registered.
23.1
Consent of Deloitte & Touche LLP.
23.2
Consent of Frank E. Collins, Esq. (included in Exhibit 5).
24
Powers of Attorney (included on the signature pages of this Registration Statement).