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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration No. 333- </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES </FONT></H1>

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<A NAME=A003></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND
EXCHANGE COMMISSION </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, D.C. 20549 </FONT></H1>

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     <P ALIGN=CENTER>_________________ </P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM S-8 </FONT></H1>

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<A NAME=A006></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>REGISTRATION STATEMENT </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNDER </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>THE SECURITIES ACT OF
1933 </FONT></H1>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>&nbsp;&nbsp;&nbsp;NATIONAL MEDICAL
HEALTH CARD SYSTEMS, INC.&nbsp;&nbsp;&nbsp; </U><BR> (Exact name of
registrant as specified in its charter)</FONT></B> >

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U> &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DELAWARE&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>(State
or other jurisdiction of incorporation or organization)  </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11-2581812 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <BR> (I.R.S. employer identification no.) </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>&nbsp;&nbsp;&nbsp; 26 Harbor Park Drive,
Port Washington, New York 11050&nbsp;&nbsp;&nbsp;</U><BR>  (Address of principal executive offices)</FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>&nbsp;&nbsp;1999 STOCK OPTION PLAN &nbsp;&nbsp;</U><BR>(Full title of the plan)</FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jonathan Friedman, Esq.<BR>Vice President and
Legal Counsel <BR>National Medical Health Card Systems, Inc.<BR> 26 Harbor Park Drive <BR><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Washington, New York 11050&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR> (Name and address of agent for service)</FONT></H1>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(516) 626-0007&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR> (Telephone number, including area code, of agent for service)</FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>

<PAGE>
<TABLE WIDTH="600" BORDER="1" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title of Securities to<BR>
be Registered         </FONT></TH>
     <TH ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Amount to Be  <BR>
Registered (1)
</FONT></TH>
     <TH ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Proposed<BR> Maximum Offering <BR>Price Per Share </FONT></TH>
     <TH ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Proposed <BR>Maximum Aggregate<BR> Offering Price </FONT></TH>
     <TH ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Amount of<BR>
Registration Fee
</FONT></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="20%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Common Stock,<BR> par value<BR>
$0.001 <BR>per share
</FONT></TD>
     <TD WIDTH="20%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1,715,000(2)
</FONT></TD>
     <TD WIDTH="20%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$25.15(3)
</FONT></TD>
     <TD WIDTH="20%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$43,132,250
</FONT></TD>
     <TD WIDTH="20%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$[_________]
</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Common Stock, par value<BR>
$0.001 per share
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">50,000(2)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$29.98(4)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$1,499,000
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$[_________]
</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Common Stock, par value<BR>
$0.001 per share
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">50,000(2)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$36.10(5)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$1,805,000
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$[_________]
</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Common Stock, par value<BR>
$0.001 per share
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">85,000(2)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$31.00(6)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$2,635,000
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$[_________]
</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Common Stock, par value<BR>
$0.001 per share
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">100,000(2)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$24.51(7)
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$2,451,000
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$[_________]
</FONT></TD></TR>

<TR VALIGN="TOP">
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">TOTAL
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2,000,000
</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$51,522,250</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
$6,525.05
</FONT></TD></TR>
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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Represents estimated maximum aggregate number of additional shares of common
          stock, par value $0.001 per share (the &#147;Common Stock&#148;) of National
          Medical Health Card Systems, Inc. (&#147;NMHC&#148;) issuable upon the exercise
          of options and pursuant to stock appreciation rights which may be granted under
          the 1999 Stock Option Plan, as amended (the &#147;1999 Plan&#148;). Pursuant to
          Rule 416 promulgated under the Securities Act of 1933, as amended (the
          &#147;Securities Act of 1933&#148;), this registration statement also covers
          such indeterminate number of additional shares of Common Stock as may be
          issuable under the 1999 Plan pursuant to stock splits, stock dividend,
          anti-dilution provisions or similar transactions thereof. </FONT></TD>
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          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          The 1999 Plan originally provided for the granting of options to purchase
          1,650,000 shares of Common Stock (&#147;Common Shares&#148;). On January 24,
          2002 the 1999 Plan was amended to increase the number of Common Shares issuable
          upon the exercise of options granted thereunder by 1,200,000 Common Shares to
          2,850,000 Common Shares. On March 19, 2004, the 1999 Plan was again amended to
          increase the number of Common Shares issuable upon the exercise of options
          granted thereunder by 2,000,000 Common Shares to 4,850,00 Common Shares. </FONT></TD>
          </TR>
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          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Estimated solely for the purpose of calculating the registration fee in
          accordance with Rule 457(h), calculated by averaging the high and low share
          prices of the Common Stock reported on the Nasdaq National Market on September 14,
          2004. </FONT></TD>
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          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $29.98 per
          Common Share. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $36.10 per
          Common Share. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(6)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $31.00 per
          Common Share. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(7)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $24.51 per
          Common Share. </FONT></TD>
          </TR>
          </TABLE>
          <BR>
<p>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This Registration Statement relates
to the registration of an additional 2,000,000 shares of the Common Stock of NMHC which
may be issued or sold under the 1999 Plan. Accordingly, pursuant to General Instruction E
of Form S-8, the contents of the following registration Statements are hereby
incorporated herein by Reference: Registration Number 333-82224, filed on February 5,
2002 (excluding Annex A thereto), and as amended on June 18, 2002, and Registration
Number: 333-72209 filed on February 11, 1999.  </FONT></P>
<BR>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II  </FONT></H1>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
</FONT></H1><BR>
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<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits<BR><BR>
Exhibit &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description <BR><U>Number</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>of Exhibit&nbsp;&nbsp;</U><BR><BR>
 </FONT></P>
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<TD WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1 </FONT></TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH="86%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1999 Stock Option Plan, as amended (1) </FONT></TD>
</TR>
</TABLE>
<BR><BR>
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<TD WIDTH="9%"> <FONT FACE="Times New Roman, Times, Serif" SIZE=2> 5.1 </FONT></TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH="86%"> <FONT FACE="Times New Roman, Times, Serif" SIZE=2> Opinion of Jonathan Friedman, Esq. as to the legality of the shares of Common Shares registered hereunder   </FONT></TD>
</TR>
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<BR><BR>
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<TD WIDTH="9%"> <FONT FACE="Times New Roman, Times, Serif" SIZE=2> 23.1 </FONT></TD>
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH="86%"> <FONT FACE="Times New Roman, Times, Serif" SIZE=2> Consent of Jonathan Friedman, Esq. (contained in Exhibit 5.1) </FONT></TD>
</TR>
</TABLE>
<BR><BR>
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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Denotes document filed as an exhibit to NMHC&#146;s Form 10-Q for the quarter
          ended March 31, 2004 which is incorporated herein by reference. </FONT></TD>
          </TR>
          </TABLE>
          <BR>
<PAGE>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURES</I></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, NMHC 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 Port Washington, New York, on the 15th day of September, 2004. </FONT></P>


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<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>NATIONAL MEDICAL HEALTH CARD SYSTEMS, INC.</B><BR><BR>
<BR>BY: /s/ James F. Smith<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
James F. Smith<BR>President and Chief Executive Officer</FONT><BR><BR></TD></TR>
</TABLE>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&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></P>


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<TR VALIGN="BOTTOM">
     <TH ALIGN="LEFT"><FONT SIZE="1"><U>Signature</U>
</FONT></TH>
     <TH ALIGN="LEFT"><FONT SIZE="1"><U>Capacity</U>
</FONT></TH>
     <TH ALIGN="LEFT"><FONT SIZE="1"><U>Date</U>
</FONT></TH></TR>
<TR VALIGN="TOP" ALIGN="LEFT">
     <TD WIDTH="34%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/James F. Smith<BR>&nbsp;&nbsp;&nbsp;James F. Smith </FONT></TD>
     <TD WIDTH="33%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Chief Executive Officer<BR>&nbsp;and President<BR>(Principal Executive Officer)</FONT></TD>
     <TD WIDTH="33%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 15, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Stuart Fleischer<BR>&nbsp;&nbsp;&nbsp;Stuart Fleischer</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Chief Financial Officer<BR>(Principal Accounting and<BR>Financial Officer)       </FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 15, 2004</FONT></TD></TR>
<TR VALIGN="TOP" ALIGN="LEFT">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/James J. Bigl<BR>&nbsp;&nbsp;&nbsp;James J. Bigl</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 15, 2004</FONT></TD></TR>
<TR VALIGN="TOP" ALIGN="LEFT">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Steven B. Klinsky<BR>&nbsp;&nbsp;&nbsp;Steven B. Klinsky</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Bert E. Brodsky <BR>&nbsp;&nbsp;&nbsp;&nbsp;Bert E. Brodsky</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Michael B. Ajouz <BR>&nbsp;&nbsp;&nbsp;&nbsp;Michael B. Ajouz</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Gerald Angowitz <BR>&nbsp;&nbsp;&nbsp;&nbsp;Gerald Angowitz</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/G. Harry Durity <BR>&nbsp;&nbsp;&nbsp;&nbsp;G. Harry Durity</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Michael T. Flaherman  <BR>&nbsp;&nbsp;&nbsp;&nbsp;Michael T. Flaherman</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Robert R. Grusky <BR>&nbsp;&nbsp;&nbsp;&nbsp;Robert R. Grusky</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 /s/Paul J. Konigsberg <BR>&nbsp;&nbsp;Paul J. Konigsberg</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>
 September 14, 2004</FONT></TD></TR>
</TABLE>


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<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>September
15, 2004 </FONT></P>

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<A NAME=A030></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>National Medical Health
Card Systems, Inc.<BR>26 Harbor Park Drive <BR>Port Washington, New York 11050 </FONT></P>

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<A NAME=A031></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re:
Registration Statement on Form S-8</FONT></P>

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<A NAME=A032></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dear Sir or Madam: </FONT></P>

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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
my capacity as Vice President and Legal Counsel to National Medical Health Card Systems,
Inc., a Delaware corporation (the &#147;Company&#148;), I have acted as counsel to the
Company in connection with a Registration Statement on Form S-8 being filed
contemporaneously herewith by the Company with the Securities and Exchange Commission (the
&#147;Commission&#148;) under the Securities Act of 1933, as amended (the
&#147;Registration Statement&#148;), covering an additional 2,000,000 shares of common
stock, par value $.001 per share, of the Company (the &#147;Shares&#148;) which are
available for issuance under the Company&#146;s 1999 Stock Option Plan, as amended (the
&#147;1999 Plan&#148;), all as more fully described in the Registration Statement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
rendering this opinion set forth herein, I have examined the Certificate of Incorporation
and the By-Laws of the Company, each as amended, the Registration Statement and the 1999
Plan. I am familiar with corporate proceedings of the Company relating to the adoption of
the 1999 Plan. I have also examined such other instruments and documents as I have deemed
relevant under the circumstances. </FONT></P>

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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of the opinions expressed below, I have assumed (i) the authenticity of all
documents submitted to us as original, (ii) the conformity to the originals of all
documents submitted as certified, photostatic or facsimile copies and the authenticity of
the originals, (iii) the legal capacity of natural persons, (iv) the due authorization,
execution and delivery of all documents by all parties and the validity and binding effect
thereof and (v) the conformity to the proceedings of the Board of Directors of all minutes
of such proceedings. I have also assumed that the corporate records furnished to us by
NMHC include all corporate proceedings taken by the Company to date. </FONT></P>

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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
upon and subject to the foregoing, I am of the opinion that the Shares to be issued under
the 1999 Plan have been duly and validly authorized and, when issued and paid for in
accordance with the terms of the 1999 Plan, will be duly and validly issued, fully paid
and nonassessable. </FONT></P>

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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
hereby consent to the filing of this opinion with the Commission as an exhibit to the
Registration Statement. In giving this consent, I do not thereby admit that I am included
in the category of persons whose consent is required under Section 7 of the Securities Act
or rules and regulations of the Commission. </FONT></P>

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<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
opinion is as of the date hereof, and I do not undertake, and hereby disclaim, any
obligation to advise you of any changes in any of the matters set forth herein. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
am rendering this opinion only as to the matters expressly set forth herein, and no
opinion should be inferred as to any other matters. I am admitted to the bar of the State
of New York, and I do not express my opinion as to the laws of any other jurisdiction
other than the General Corporation Law of the State of Delaware. </FONT></P>
<BR>
<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH="100%" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="TOP">
<TD WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
<TD WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Very truly yours,<BR><BR>
<BR><BR><BR>
Jonathan Friedman </FONT> </TD>
</TR>
</TABLE>

</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "nmhc2004s8.htm", "secsgml_size_bytes": 31007}]
{"company-data": {"conformed-name": "NATIONAL MEDICAL HEALTH CARD SYSTEMS INC", "cik": "0000813562", "assigned-sic": "6411", "irs-number": "112581812", "state-of-incorporation": "NY", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-119144", "film-number": "041038871"}, "business-address": {"street1": "26 HARBOR PARK DR", "city": "PORT WASHINGTON", "state": "NY", "zip": "11050", "phone": "5166260007"}, "mail-address": {"street1": "26 HARBOR PARK DRIVE", "city": "PORT WASHINGTON", "state": "NY", "zip": "11050"}}
Registration No. 333-
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF
1933
NATIONAL MEDICAL
HEALTH CARD SYSTEMS, INC.
(Exact name of
registrant as specified in its charter)
>
DELAWARE
(State
or other jurisdiction of incorporation or organization)
11-2581812
(I.R.S. employer identification no.)
26 Harbor Park Drive,
Port Washington, New York 11050
(Address of principal executive offices)
1999 STOCK OPTION PLAN
(Full title of the plan)
Jonathan Friedman, Esq.
Vice President and
Legal Counsel
National Medical Health Card Systems, Inc.
26 Harbor Park Drive
Port Washington, New York 11050
(Name and address of agent for service)
(516) 626-0007
(Telephone number, including area code, of agent for service)
Title of Securities to
be Registered
Amount to Be
Registered (1)
Proposed
Maximum Offering
Price Per Share
Proposed
Maximum Aggregate
Offering Price
Amount of
Registration Fee
Common Stock,
par value
$0.001
per share
1,715,000(2)
$25.15(3)
$43,132,250
$[_________]
Common Stock, par value
$0.001 per share
50,000(2)
$29.98(4)
$1,499,000
$[_________]
Common Stock, par value
$0.001 per share
50,000(2)
$36.10(5)
$1,805,000
$[_________]
Common Stock, par value
$0.001 per share
85,000(2)
$31.00(6)
$2,635,000
$[_________]
Common Stock, par value
$0.001 per share
100,000(2)
$24.51(7)
$2,451,000
$[_________]
TOTAL
2,000,000
$51,522,250
$6,525.05
(1)
Represents estimated maximum aggregate number of additional shares of common
          stock, par value $0.001 per share (the "Common Stock") of National
          Medical Health Card Systems, Inc. ("NMHC") issuable upon the exercise
          of options and pursuant to stock appreciation rights which may be granted under
          the 1999 Stock Option Plan, as amended (the "1999 Plan"). Pursuant to
          Rule 416 promulgated under the Securities Act of 1933, as amended (the
          "Securities Act of 1933"), this registration statement also covers
          such indeterminate number of additional shares of Common Stock as may be
          issuable under the 1999 Plan pursuant to stock splits, stock dividend,
          anti-dilution provisions or similar transactions thereof.
(2)
The 1999 Plan originally provided for the granting of options to purchase
          1,650,000 shares of Common Stock ("Common Shares"). On January 24,
          2002 the 1999 Plan was amended to increase the number of Common Shares issuable
          upon the exercise of options granted thereunder by 1,200,000 Common Shares to
          2,850,000 Common Shares. On March 19, 2004, the 1999 Plan was again amended to
          increase the number of Common Shares issuable upon the exercise of options
          granted thereunder by 2,000,000 Common Shares to 4,850,00 Common Shares.
(3)
Estimated solely for the purpose of calculating the registration fee in
          accordance with Rule 457(h), calculated by averaging the high and low share
          prices of the Common Stock reported on the Nasdaq National Market on September 14,
          2004.
(4)
Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $29.98 per
          Common Share.
(5)
Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $36.10 per
          Common Share.
(6)
Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $31.00 per
          Common Share.
(7)
Represents the issuance of Common Shares issuable upon the exercise of options
          which have been granted under the 1999 Plan with a purchase price of $24.51 per
          Common Share.
This Registration Statement relates
to the registration of an additional 2,000,000 shares of the Common Stock of NMHC which
may be issued or sold under the 1999 Plan. Accordingly, pursuant to General Instruction E
of Form S-8, the contents of the following registration Statements are hereby
incorporated herein by Reference: Registration Number 333-82224, filed on February 5,
2002 (excluding Annex A thereto), and as amended on June 18, 2002, and Registration
Number: 333-72209 filed on February 11, 1999.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8.      Exhibits
Exhibit          Description
Number
of Exhibit
4.1
1999 Stock Option Plan, as amended (1)
5.1
Opinion of Jonathan Friedman, Esq. as to the legality of the shares of Common Shares registered hereunder
23.1
Consent of Jonathan Friedman, Esq. (contained in Exhibit 5.1)
(1)
Denotes document filed as an exhibit to NMHC's Form 10-Q for the quarter
          ended March 31, 2004 which is incorporated herein by reference.
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, NMHC 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 Port Washington, New York, on the 15th day of September, 2004.
NATIONAL MEDICAL HEALTH CARD SYSTEMS, INC.
BY: /s/ James F. Smith
——————————————
James F. Smith
President and Chief Executive Officer
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.
Signature
Capacity
Date
/s/James F. Smith
James F. Smith
Chief Executive Officer
and President
(Principal Executive Officer)
September 15, 2004
/s/Stuart Fleischer
Stuart Fleischer
Chief Financial Officer
(Principal Accounting and
Financial Officer)
September 15, 2004
/s/James J. Bigl
James J. Bigl
Director
September 15, 2004
/s/Steven B. Klinsky
Steven B. Klinsky
Director
September 14, 2004
/s/Bert E. Brodsky
Bert E. Brodsky
Director
September 14, 2004
/s/Michael B. Ajouz
Michael B. Ajouz
Director
September 14, 2004
/s/Gerald Angowitz
Gerald Angowitz
Director
September 14, 2004
/s/G. Harry Durity
G. Harry Durity
Director
September 14, 2004
/s/Michael T. Flaherman
Michael T. Flaherman
Director
September 14, 2004
/s/Robert R. Grusky
Robert R. Grusky
Director
September 14, 2004
/s/Paul J. Konigsberg
Paul J. Konigsberg
Director
September 14, 2004
September
15, 2004
National Medical Health
Card Systems, Inc.
26 Harbor Park Drive
Port Washington, New York 11050
Re:
Registration Statement on Form S-8
Dear Sir or Madam:
In
my capacity as Vice President and Legal Counsel to National Medical Health Card Systems,
Inc., a Delaware corporation (the "Company"), I have acted as counsel to the
Company in connection with a Registration Statement on Form S-8 being filed
contemporaneously herewith by the Company with the Securities and Exchange Commission (the
"Commission") under the Securities Act of 1933, as amended (the
"Registration Statement"), covering an additional 2,000,000 shares of common
stock, par value $.001 per share, of the Company (the "Shares") which are
available for issuance under the Company's 1999 Stock Option Plan, as amended (the
"1999 Plan"), all as more fully described in the Registration Statement.
In
rendering this opinion set forth herein, I have examined the Certificate of Incorporation
and the By-Laws of the Company, each as amended, the Registration Statement and the 1999
Plan. I am familiar with corporate proceedings of the Company relating to the adoption of
the 1999 Plan. I have also examined such other instruments and documents as I have deemed
relevant under the circumstances.
For
purposes of the opinions expressed below, I have assumed (i) the authenticity of all
documents submitted to us as original, (ii) the conformity to the originals of all
documents submitted as certified, photostatic or facsimile copies and the authenticity of
the originals, (iii) the legal capacity of natural persons, (iv) the due authorization,
execution and delivery of all documents by all parties and the validity and binding effect
thereof and (v) the conformity to the proceedings of the Board of Directors of all minutes
of such proceedings. I have also assumed that the corporate records furnished to us by
NMHC include all corporate proceedings taken by the Company to date.
Based
upon and subject to the foregoing, I am of the opinion that the Shares to be issued under
the 1999 Plan have been duly and validly authorized and, when issued and paid for in
accordance with the terms of the 1999 Plan, will be duly and validly issued, fully paid
and nonassessable.
I
hereby consent to the filing of this opinion with the Commission as an exhibit to the
Registration Statement. In giving this consent, I do not thereby admit that I am included
in the category of persons whose consent is required under Section 7 of the Securities Act
or rules and regulations of the Commission.
This
opinion is as of the date hereof, and I do not undertake, and hereby disclaim, any
obligation to advise you of any changes in any of the matters set forth herein.
I
am rendering this opinion only as to the matters expressly set forth herein, and no
opinion should be inferred as to any other matters. I am admitted to the bar of the State
of New York, and I do not express my opinion as to the laws of any other jurisdiction
other than the General Corporation Law of the State of Delaware.
Very truly yours,
Jonathan Friedman