MAXICARE HEALTH PLANS INC
10-C, 1995-02-27
HOSPITAL & MEDICAL SERVICE PLANS
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                                UNITED STATES

                     SECURITIES AND EXCHANGE COMMISSION

                           Washington, D. C. 20549


                                  Form 10-C

               REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                        INTERDEALER QUOTATION SYSTEM



      Filed pursuant to Section 13 or 15(d) of the Securities Exchange
              Act of 1934 and Rule 13a-17 or 15d-17 thereunder


                        MAXICARE HEALTH PLANS, INC.                    
      -----------------------------------------------------------------
               (Exact name of issuer as specified in charter)


               1149 South Broadway Street, Los Angeles, CA  90015      
      -----------------------------------------------------------------
                  (Address of principal executive offices)


      Issuer's telephone number, including area code  (213) 765-2000   
                                                      -----------------


                  I. CHANGE IN NUMBER OF SHARES OUTSTANDING


      Indicate any change (increase or  decrease)  of  5% or more in the
      number of shares outstanding:

      1.  Title of security Common Stock                             

                            -------------------------------------------

      2.  Number of shares outstanding before the change 10,862,945
                                                         --------------

      3.  Number of shares outstanding after the change  11,506,756
                                                         --------------

      4.  Effective date of change February 23, 1995
                                   ------------------------------------
      5.  Method of change:
          Specify  method  (such   as   merger,  acquisition,  exchange,
          distribution, stock split, reverse split, acquisition of
          stock for treasury, etc.) Conversion and options exercised
                                    -----------------------------------

                                   1 of 2
      <PAGE>
          Give brief description of transaction 221,0000 shares of
                                                ------------------------
          Series A Cumulative Convertible Preferred Stock were converted
          --------------------------------------------------------------
          into 608,811 shares of Common Stock and options to purchase
          --------------------------------------------------------------
          35,000 shares were exercised.
          --------------------------------------------------------------



                        II. CHANGE IN NAME OF ISSUER



      1.  Name prior to change 
                               ----------------------------------------

      2.  Name after change 
                            -------------------------------------------

      3.  Effective date of charter amendment changing name
                                                            -----------

      4.  Date of shareholder approval of change, if required 
                                                              ---------


      Date February 24, 1995              /s/ EUGENE L. FROELICH
           -----------------              -----------------------------
                                              Eugene L. Froelich
                                          Chief Financial Officer and
                                          Executive Vice President -
                                          Finance and Administration








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