-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 M5MoaqzFdLph0eRBQoap39At8DPappM6MbI7vv7X5Fz2h70hPNwkufU5ZOH/5CgH
 UBwQrj/Ko52nglr/uTNePg==

<SEC-DOCUMENT>0000897069-03-001131.txt : 20030926
<SEC-HEADER>0000897069-03-001131.hdr.sgml : 20030926
<ACCEPTANCE-DATETIME>20030926131708
ACCESSION NUMBER:		0000897069-03-001131
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030924
FILED AS OF DATE:		20030926

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RUPP WILLIAM C
		CENTRAL INDEX KEY:			0001195101

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14177
		FILM NUMBER:		03911954

	BUSINESS ADDRESS:	
		STREET 1:		LUTHER MIDELFORT CLINIC
		STREET 2:		1400 BELLINGER ST
		CITY:			EAU CLAIRE
		STATE:			WI
		ZIP:			54702-1510

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COBALT CORP
		CENTRAL INDEX KEY:			0001062780
		STANDARD INDUSTRIAL CLASSIFICATION:	HOSPITAL & MEDICAL SERVICE PLANS [6324]
		IRS NUMBER:				391931212
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		401 WEST MICHIGAN STREET
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53203-2896
		BUSINESS PHONE:		4142266900

	MAIL ADDRESS:	
		STREET 1:		401 WEST MICHIGAN STREET
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			52030-2896

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED WISCONSIN SERVICES INC
		DATE OF NAME CHANGE:	19981112
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rup23.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-09-24</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001062780</issuerCik>
        <issuerName>COBALT CORP</issuerName>
        <issuerTradingSymbol>CBZ</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001195101</rptOwnerCik>
            <rptOwnerName>RUPP WILLIAM C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LUTHER MIDELFORT CLINIC</rptOwnerStreet1>
            <rptOwnerStreet2>1400 BELLINGER STREET</rptOwnerStreet2>
            <rptOwnerCity>EAU CLAIRE</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>54702-1510</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>1</isDirector>
			<isOfficer>0</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
		</reportingOwnerRelationship>
	</reportingOwner>
	<nonDerivativeTable>
		<nonDerivativeTransaction>
			<securityTitle>
				<value>Common Stock</value>
			</securityTitle>
			<transactionDate>
				<value>2003-09-24</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>D</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>3000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
					<footnoteId id="F1"/>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>0</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeTransaction>
	</nonDerivativeTable>
	<derivativeTable>
		<derivativeTransaction>
			<securityTitle>
				<value>Director Stock Option (right to buy)</value>
				<footnoteId id="F2"/>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>7.6500</value>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-09-24</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>D</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>6000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
					<footnoteId id="F5"/>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<footnoteId id="F3"/>
			</exerciseDate>
			<expirationDate>
				<value>2014-02-26</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>6000</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>0</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
		<derivativeTransaction>
			<securityTitle>
				<value>Director Stock Option (right to buy)</value>
				<footnoteId id="F2"/>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>19.9900</value>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-09-24</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>D</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>1000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
					<footnoteId id="F5"/>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<footnoteId id="F3"/>
			</exerciseDate>
			<expirationDate>
				<value>2014-05-28</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>1000</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>0</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
		<derivativeTransaction>
			<securityTitle>
				<value>Director Stock Option (right to buy)</value>
				<footnoteId id="F2"/>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>14.1000</value>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-09-24</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>D</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>1000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
					<footnoteId id="F5"/>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<footnoteId id="F3"/>
			</exerciseDate>
			<expirationDate>
				<value>2014-12-31</value>
				<footnoteId id="F4"/>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>1000</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>0</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
	</derivativeTable>
	<footnotes>
		<footnote id="F1">Disposed of pursuant to the merger agreement between issuer and WellPoint Health Networks Inc. (WellPoint) whereby each share of issuer common stock was canceled and replaced with the right to receive 0.1233 share of WellPoint common stock and $10.25 in cash.  On September 24, 2003, the effective date of the merger, the closing price of WellPoint common stock was $76.30 per share.</footnote>
		<footnote id="F2">Grant to reporting person of option to buy shares of issuer common stock under the Cobalt Corporation Equity Incentive Plan.</footnote>
		<footnote id="F3">The option vested and became immediately exercisable at the effective time of the merger.</footnote>
		<footnote id="F4">The Form 4 filed on January 6, 2003 mistakenly reported the expiration date of this option as 12/31/2015.  The correct expiration date is 12/31/2014.</footnote>
		<footnote id="F5">This option was converted into an option to purchase 0.2466 shares of WellPoint common stock (rounded down to the nearest whole share) for each share of issuer common stock subject to the original option.  Such new option is otherwise subject to the same terms and conditions as the original option, except that the exercise price per share of WellPoint common stock is equal to the exercise price per share of issuer common stock under the original option divided by 0.2466 (rounded up to the nearest whole cent).</footnote>
	</footnotes>
	<remarks>
	</remarks>
	<ownerSignature>
		<signatureName>By: Peter C. Underwood, Attorney-In-Fact</signatureName>
		<signatureDate>2003-09-25</signatureDate>
	</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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