HealthMarkets, Inc. – ‘NT 10-K’ for 12/31/99

On:  Friday, 3/31/00   ·   For:  12/31/99   ·   Accession #:  950134-0-2940   ·   File #:  1-14953

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Notice of a Late Filing of a Form 10-K   —   Form 12b-25
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NT 10-K     Notification of Late Filing for December 31, 1999      4     14K 

NT 10-K
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 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 FORM 12B-25
 SEC FILE NUMBER
0-9556
 NOTIFICATION OF LATE FILING
 FORM 10-K
FOR PERIOD ENDED DECEMBER 31, 1999

NT 10-K
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PART I -REGISTRATION INFORMATION                                                

Name of Registrant                          UICI                                

Former Name if Applicable                                                       

Address of Principal Executive Office       4001 McEwen Drive                   
                 Suite 200
                         Dallas, TX  75244

PART II - RULES 12b-25(b) AND (c)                                               

If the subject report could not be filed without unreasonable effort or expense 
and the registrant seeks relief pursuant to Rule 12-25(b), the following should 
be completed. (Check box if appropriate)                                        

         (a)      The reasons described in reasonable detail in Part III of this
               form could not be eliminated without unreasonable effort or
expense;                                    

X        (b)      The subject annual report, semi-annual report, transition     
           report on Form 10-K, Form 20-F, 11-K, or Form N-SAT, or
             portion thereof, will be filed on or before the fifteenth
               calendar day following the prescribed date; See Part III or
             the subject quarterly report or transition report on Form
                  10-Q, or portion thereof, will be filed on or before the fifth
       calendar day following the prescribed due date; and

       (c)      The accountant's statement or other exhibit required by Rule
12b-25 (c) has been attached if applicable. 

PART III - NARRATIVE                                                            

    State below in reasonable detail the reasons why Forms 10-K, 20-F,
11-K, 10-Q, N-SAR, or the Transition report or portion thereof, could not be    
filed within the prescribed time period.                                        

        The Company's indirect wholly owned subsidiary, United Credit National
Bank ("UCNB"), is a national bank subject to regulation by the Office of the    
U.S. Comptroller of the Currency (the "OCC"). The OCC has been engaged in a     
protracted safety and soundness examination of UCNB as of, and for the year     
ended, December 31, 1999. The field work associated with that safety and        
soundness examination has only recently been completed. For such reason, UICI is
unable to timely complete its Annual Report on Form 10-K for the year ended     
December 31, 1999 without unreasonable effort.                                  

PART IV - OTHER INFORMATION                                                     

(1)      Name and telephone number of persons to contact in regard to this      
notification                                                  

Glenn W. Reed     (972)            392-6719                   
(Name)            (Area Code)      (Telephone Number)         

(2)      Have all other periodic reports required under Section 13 or 15(d) of  
     the Securities Exchange Act of 1934 or Section 30 of the Investment
        Company Act of 1940 during the preceding 12 months or for such shorter
     period that the Registrant was required to file such report(s) been
filed? If answer is no, identify report (s).                  

                              X Yes           No

NT 10-K
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(3)      Is it anticipated that any significant change in results of operations 
from the corresponding period for the last fiscal year will be
    reflected by the earnings statements to be included in the subject
report or portion thereof?                                    

                             X     Yes        No

If so, attach an explanation of the anticipated change, both  
        narratively and quantitatively, and. If appropriate, state the reasons
why a reasonable estimate of the results can not be made.     

See Exhibit A Attached hereto.                                

UICI
(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.                         

                   By: /s/ GREGORY T. MUTZ
                                   -------------------------------
                   Gregory T. Mutz
                                         President and Chief Executive Officer

                         Date:  March 30, 2000

NT 10-K
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                                                        EXHIBIT A TO FORM 12B-25

       UICI incurred a total net loss in 1999 of $146.0 million, compared to
net income of $59.0 million in the prior year. The significant net loss was     
attributable primarily to losses from the Company's' United CreditServ unit in  
the amount of $179.0 million (including an estimated loss on disposal of $84.5  
million, net of tax) and losses at the Company's Educational Finance Group, Inc.
unit in the amount of $20.0 million. The United CreditServ unit has been        
designated as a discontinued operation for financial reporting purposes.        

        Set forth below is a summary of comparative operating results for UICI
for each of the years ended December 31, 1999, 1998 and 1997:                   

                                                                [Download Table]

                                          1999         1998         1997   
                                          ----         ----         ----   
                                       (in millions, except per share data)
                                                                           
Revenues from continuing operations:                                       
     Insurance                           $   856      $   914     $   803  
     Educational Finance Group               105           57           8  
     Insurdata (HealthAxis.com, Inc.)         46           41          25  
     Other, including eliminations             6           45          70  
                                         -------      -------     -------  
         Total                           $ 1,013      $ 1,057     $   906  
                                         =======      =======     =======  

Income from continuing operations:                                         
     Insurance                           $    67      $    33     $    92  
     Educational Finance Group, Inc.         (20)          (1)          2  
     Insurdata (HealthAxis.com, Inc.)          2            3           3  
     Other                                     2           13          15  
     Tax expense                             (18)         (16)        (36) 
                                         -------      -------     -------  
Net income from continuing operations         33           32          76  

Net (loss) income from                                                     
     discontinued operations                (179)          27          11  
                                         -------      -------     -------  

Net (loss) income                        $  (146)     $    59     $    87  
                                         =======      =======     =======  

Earnings (loss) per share:                                                 
     Basic:                                                                
       Continuing operations             $  0.72      $  0.68     $  1.67  
       Discontinued operations             (3.87)        0.59        0.24  
                                         -------      -------     -------  
       Net income (loss)                 $ (3.15)     $  1.27     $  1.91  
                                         =======      =======     =======  
     Diluted:                                                              
       Continuing operations             $  0.70      $  0.67     $  1.67  
       Discontinued operations             (3.75)        0.59        0.24  
                                         -------      -------     -------  
       Net income (loss)                 $ (3.05)     $  1.26     $  1.91  
                                         =======      =======     =======  

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘NT 10-K’ Filing		Date		First		Last			Other Filings
Filed on:		3/31/00							10-Q
		3/30/00		3
For Period End:		12/31/99		1		4			10-K
		12/31/98		4					10-K405
		12/31/97		4					10-K405,  DEF 14A
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