On March 17, 2008, Universal American Corp. issued a press release announcing that, in connection with the finalization of its 2007 Form 10-K filed with the Securities and Exchange Commission, it has determined that it will write down certain of its sub-prime holdings to market value as of December 31, 2007.

A copy of the press release is furnished as Exhibit 99.1 to this report.

The information set forth under Item 2.02 is hereby incorporated by reference into this Item 7.01.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.