-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VwPFC4SP45Qc1SVJ4oeUKzKAL+HclYef/+3Xn5F4SQuemSz1nE8lJ5jPLJJ7iyun
 2c7vilfIIcJb8CRb3MrFmQ==

<SEC-DOCUMENT>0001179110-03-011902.txt : 20031204
<SEC-HEADER>0001179110-03-011902.hdr.sgml : 20031204
<ACCEPTANCE-DATETIME>20031204164817
ACCESSION NUMBER:		0001179110-03-011902
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031204
FILED AS OF DATE:		20031204

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STAHL BRUCE A
		CENTRAL INDEX KEY:			0001260273

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14681
		FILM NUMBER:		031038358

	BUSINESS ADDRESS:	
		STREET 1:		PENN TREATY AMERICAN CORP
		STREET 2:		3440 LEHIG STREET
		CITY:			ALLENTOWN
		STATE:			PA
		ZIP:			18103
		BUSINESS PHONE:		610 965 2222

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENN TREATY AMERICAN CORP
		CENTRAL INDEX KEY:			0000814181
		STANDARD INDUSTRIAL CLASSIFICATION:	ACCIDENT & HEALTH INSURANCE [6321]
		IRS NUMBER:				231664166
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3440 LEHIGH ST
		CITY:			ALLENTOWN
		STATE:			PA
		ZIP:			18103
		BUSINESS PHONE:		6109652222

	MAIL ADDRESS:	
		STREET 1:		3440 LEHIGH ST
		CITY:			ALLENTOWN
		STATE:			PA
		ZIP:			18103
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-12-04</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000814181</issuerCik>
        <issuerName>PENN TREATY AMERICAN CORP</issuerName>
        <issuerTradingSymbol>PTA</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001260273</rptOwnerCik>
            <rptOwnerName>STAHL BRUCE A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>64 DUNHILL DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>VOORHEES</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>08043</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>V.P. &amp; Chief Actuary</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-12-04</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>5000</value>
</transactionShares>
<transactionPricePerShare><value>1.65</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>15000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable></derivativeTable>
<footnotes></footnotes>
<ownerSignature><signatureName>/s/ Linda G. Carraghan, by power of attorney for Bruce A. Stahl</signatureName>
<signatureDate>2003-12-04</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----