8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 25, 2006

CORVEL CORPORATION

(Exact Name of Registrant as Specified in Charter)

DELAWARE (State or Other Jurisdiction of Incorporation)	000-19291 (Commission File Number)	33-0282651 (IRS Employer Identification No.)
2010 Main Street, Suite 600, Irvine, California (Address of Principal Executive Offices)		92614 (Zip Code)

Registrant’s telephone number, including area code: (949) 851-1473

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 7.01. Regulation FD Disclosure.
	Item 9.01. Financial Statements and Exhibits.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

Item 7.01. Regulation FD Disclosure.

     On August 25, 2006, CorVel Corporation (the “Company”) issued a press release announcing the Company’s adoption of a pre-arranged stock purchase plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, to repurchase up to 200,000 shares of the Company’s common stock during the next three months. A copy of the press release, with a typographical correction in its title, is furnished herewith as Exhibit No. 99.1 and incorporated herein by reference.

     The information contained in this report and in the exhibit attached to this report is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This report shall not be deemed an admission as to the materiality of any information contained herein.

Item 9.01. Financial Statements and Exhibits.

     (a) Financial Statements of Business Acquired

     Not Applicable

     (b) Pro Forma Financial Information

     Not Applicable

     (c) Shell Company Transactions

     Not Applicable

     (d) Exhibits

Exhibit No.	Description
99.1	Press Release, dated August 25, 2006 announcing CorVel Corporation’s adoption of a pre-arranged stock purchase plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 as amended. (furnished herewith but not filed pursuant to Item 7.01).

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CORVEL CORPORATION (Registrant)
Dated: August 28, 2006	/s/ V. GORDON CLEMONS
	V. Gordon Clemons
	Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release, dated August 25, 2006 announcing CorVel Corporation’s adoption of a pre-arranged stock purchase plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1943, as amended. (furnished herewith but not filed pursuant to Item 7.01).

EX-99.1

Exhibit 99.1

NEWS RELEASE

Date: August 25th, 2006	CorVel Corporation 2010 Main Street Suite 600 Irvine, CA 92614
FOR IMMEDIATE RELEASE	Contact: Heather Burnham Phone: 949-851-1473 http://www.corvel.com

CorVel Corporation Adopts 10b5-1 Stock Repurchasing Plan

CorVel Corporation (NASDAQ: CRVL) announced today that effective August 23, 2006, it has adopted a pre-arranged stock trading plan to repurchase shares of its common stock during the next three months through a brokerage agreement.

The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and consistent with CorVel Corporation’s policies regarding stock transactions. Rule 10b5-1 allows public companies to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. The Company may purchase up to 200,000 shares of its common stock over a period of approximately three months.

About CorVel

CorVel Corporation (http://www.corvel.com/) is a national provider of leading-edge services and solutions in the field of managed healthcare. CorVel specializes in applying information technology and e-commerce applications to improve healthcare management in the workers’ compensation, group health, auto and disability management insurance markets. The Company provides networks of preferred providers, case management, utilization management, independent medical evaluations and medical bill review to customers nationwide. Leveraging its commitment to flexibility and personal service, CorVel delivers custom solutions for employers, insurers, third party administrators and government entities.

This press release contains forward-looking statements that are subject to risks and uncertainties, including the risk that the historical financial performance of the Company may not be indicative of future financial performance and the risk that the recent performance of the Company’s Common Stock may not be indicative of its future performance, as well as other risks detailed from time to time in the Company’s SEC reports, including the report on Form 10-K for the year ended March 31, 2006, and the Company’s most recent form 10-Q.