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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000895345-04-000197.txt : 20040324
<SEC-HEADER>0000895345-04-000197.hdr.sgml : 20040324
<ACCEPTANCE-DATETIME>20040324170336
ACCESSION NUMBER:		0000895345-04-000197
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040319
FILED AS OF DATE:		20040324

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL MEDICAL HEALTH CARD SYSTEMS INC
		CENTRAL INDEX KEY:			0000813562
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		IRS NUMBER:				112581812
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		26 HARBOR PARK DR
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050
		BUSINESS PHONE:		5166260007

	MAIL ADDRESS:	
		STREET 1:		26 HARBOR PARK DRIVE
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEW MOUNTAIN PARTNERS LP
		CENTRAL INDEX KEY:			0001105474
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26749
		FILM NUMBER:		04687838

	BUSINESS ADDRESS:	
		STREET 1:		C/O STEVEN B KLINKSY
		STREET 2:		712 FIFTH AVE 23RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127200300

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVE
		STREET 2:		23RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>jb3-national_nmpartnersex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-03-19</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000813562</issuerCik>
        <issuerName>NATIONAL MEDICAL HEALTH CARD SYSTEMS INC</issuerName>
        <issuerTradingSymbol>NMHC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001105474</rptOwnerCik>
            <rptOwnerName>NEW MOUNTAIN PARTNERS LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>712 FIFTH AVE 23RD FL</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Series A Convertible Preferred Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.50</value>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6790797</value>
                    <footnoteId id="F4"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The series A 7% convertible preferred stock (&quot;Series A Convertible Preferred Stock&quot;) of National Medical Health Card Systems, Inc. (the &quot;Issuer&quot;) is convertible into common stock (&quot;Common Stock&quot;) of the Issuer.</footnote>
        <footnote id="F2">Series A Convertible Preferred Stock is immediately convertible into Common Stock.</footnote>
        <footnote id="F3">There is no mandatory redemption date for Series A Convertible Preferred Stock.</footnote>
        <footnote id="F4">The number of shares of Common Stock underlying Series A Convertible Preferred Stock increases as dividends accumulate on Series A Convertible Preferred Stock.  The Issuer may pay accumulated and unpaid dividends in cash.</footnote>
        <footnote id="F5">The conversion price of Series A Convertible Preferred Stock is subject to anti-dilution and other adjustments.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ New Mountain Partners, L.P., By: New Mountain Investments, L.P., its general partner, By: New Mountain GP, LLC, its general partner, By: Steven B. Klinsky, Member</signatureName>
        <signatureDate>2004-03-22</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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