BANKERS TRUST COMPANY
One Bankers Trust Plaza
New York, New York  10006


Clarke S. Edgar                         Mailing Address:
Vice President                          P.O. Box 318
Telephone: 212-250-9399                 Church Street Station
                                        New York, NY 10008
     

                                        February 14, 1995



Securities and Exchange Commission
SEC Document Control
450 Fifth Street, N.W.
Washington, DC  20549
Attn:  Filing Desk


Dear Sirs:

     Re:  Filing of Schedule 13G on
          Corvel Corporationrporation
          

Pursuant to Rule 13d-1 of the General Rules and Regulations under
the Securities Exchange Act of 1934, the following is one copy of
the Schedule 13G with respect to the common stock of the above
referenced corporation.

Please acknowledge your receipt of the Schedule 13G filing
submission through the EDGAR-Link System software, by E-Mail
confirmation.

                                        Sincerely,

                                        Don R. De Souza



Enclosures

                              







            SECURITIES AND EXCHANGE COMMISSION
                  Washington, D.C.  20549


                       SCHEDULE 13G


         Under the Securities Exchange Act of 1934
                    (Amendment No.   )*
                                 ____

                    Corvel Corporation
          _______________________________________
                      NAME OF ISSUER:
              Common Stock (Par Value $0.0001
          _______________________________________
               TITLE OF CLASS OF SECURITIES
                         22100610?
          _______________________________________
                       CUSIP NUMBER


     Check the following box if a fee is being paid with
     this statement [].  (A fee is not required only if the
     filing person: (1) has a previous statement on file
     reporting beneficial ownership of more than five
     percent of the class of securities described in Item
     1; and (2) has filed no amendment subsequent thereto
     reporting beneficial ownership of five percent or less
     of such class.) (See Rule 13d-7.)

     *The remainder of this cover page shall be filled out
     for a reporting person's initial filing on this form
     with respect to the subject class of securities, and
     for any subsequent amendment containing information
     which would alter the disclosures provided in a prior
     cover page.

     The information required in the remainder of this
     cover page shall not be deemed to be "filed" for the
     purpose of Section 18 of the Securities Exchange Act
     of 1934 ("Act") or otherwise subject to the
     liabilities of that section of the Act but shall be
     subject to all other provisions of the Act (however,
     see the Notes).


             (Continued on following page(s))

                     Page 1 of 5 Pages

CUSIP No. 22100610?                     Page 2 of 5 Pages


1.NAME OF REPORTING PERSON
  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

  Bankers Trust New York Corporation and Its Wholly Owned
  Subsidiary, Bankers Trust Company, as Trustee for various
  employee benefit plans   13-6180473

2.CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
          (A)  [ ]
          (B)  [X]                                           

3.SEC USE ONLY


4.CITIZENSHIP OR PLACE OF ORGANIZATION

  Both Bankers Trust New York Corporation and Bankers Trust
  Company are New York Corporations.

 NUMBER OF     5. SOLE VOTING POWER
          
  SHARES            226,400

BENEFICIALLY   6. SHARED VOTING POWER

 OWNED BY           0

  EACH         7. SOLE DISPOSITIVE POWER

REPORTING           226,400
          
 PERSON        8. SHARED DISPOSITIVE POWER
       
  WITH              0

9.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                    226,400

10.CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(9) EXCLUDES CERTAIN
   SHARES *

                    

11.PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                    5.5%

12.TYPE OF REPORTING PERSON *

     Bankers Trust New York Corporation - HC
     Bankers Trust Company - BK

                                                      3

Item 1(a)    NAME OF ISSUER:
             
             Corvel Corporation

Item 1(b)    ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

             1920 Main Street, Suite 1090
             Irvine, CA 92714

Item 2(a)    NAME OF PERSON FILING:

             Bankers Trust New York Corporation, and its wholly-
             owned subsidiary, Bankers Trust Company, as Trustee
             for various employee benefit plans.

Item 2(b)    ADDRESS OF PRINCIPAL BUSINESS OFFICE:

             280 Park Avenue
             New York, New York  10017

Item 2(c)    CITIZENSHIP:

             Bankers Trust New York Corporation and Bankers Trust
             Company, as Trustee for various employee benefit
             plans, are both corporations incorporated in the State
             of New York with their principal business offices
             located in New York.

Item 2(d)    TITLE OF CLASS OF SECURITIES:

             Common Stock (Par Value $0.0001 of Corvel Corporation,
             a Delaware corporation.

Item 2(e)    CUSIP NUMBER:

             22100610?

Item 3       THE PERSON FILING IS A:
             
             For Bankers Trust New York Corporation,

      (g)    [X] Parent Holding Company, in accordance with
                 Section 240.13d-1(b)(ii)(G)

             For Bankers Trust Company,

      (b)    [X] Bank as defined in section 3(a)(6) of the Act.

                                                      4

Item 4       OWNERSHIP:

             (a)  Amount Beneficially Owned: 226,400

             (b)  Percent of Class:  5.5%

             (c)  Number of shares as to which the Bank has:
                     (i)  sole power to vote or to direct the
                          vote - 226,400

                    (ii)  shared power to vote or to direct the 
                          vote - 0

                   (iii)  sole power to dispose or to direct the
                          disposition of - 226,400

                    (iv)  shared power to dispose or to direct    
                         the disposition of - 0

Item 5       OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

             Not applicable.

Item 6       OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF    
             ANOTHER PERSON:

             Not applicable.

Item 7       IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
             WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
             PARENT HOLDING COMPANY:

             See Item 3 above.

Item 8       IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
             GROUP:

             Not applicable.

                                                      5

Item 10      CERTIFICATION:

             By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not acquired
for the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any
transaction having such purpose or effect.


SIGNATURE:

             After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.

Date:       as of December 31, 1994

Signature:  Bankers Trust New York Corporation



By:   /s/        James T. Byrne, Jr.
Name:            James T. Byrne, Jr.

Title:           Secretary


Signature:  Bankers Trust Company, as Trustee for various employee
benefit plans.


By:   /s/        James T. Byrne, Jr.
Name:            James T. Byrne, Jr.

Title:           Secretary