HUMANA INC — Director's Dealing 2006

Jan 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HUMANA INC (HUM)
CIK: 0000049071
Period of Report: 2006-01-03

Reporting Person: JONES DAVID A JR/KY (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-03	Humana Common	A	1821	$54.94	Acquired	255899	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Humana Common	72	Indirect
Humana Common	1300	Indirect
Humana Common	1300	Indirect
Humana Common	300	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options	$19.3125	2006-11-14	Humana Common (85000)	85000	Direct
Options	$18.9375	2007-01-02	Humana Common (5000)	5000	Direct
Options	$21.9375	2007-03-25	Humana Common (40000)	40000	Direct
Options	$21.25	2008-01-02	Humana Common (5000)	5000	Direct
Options	$20.1563	2008-01-15	Humana Common (40000)	40000	Direct
Options	$18.7813	2009-01-04	Humana Common (5000)	5000	Direct
Options	$19.25	2009-01-15	Humana Common (40000)	40000	Direct
Options	$7.875	2010-01-03	Humana Common (5000)	5000	Direct
Options	$14.7813	2011-01-02	Humana Common (5000)	5000	Direct
Options	$11.55	2012-01-02	Humana Common (5000)	5000	Direct
Options	$10.19	2013-01-02	Humana Common (5000)	5000	Direct
Options	$23.05	2014-01-02	Humana Common (2500)	2500	Direct

Footnotes

F1: Each share of Common Stock contains a Right adopted on March 5, 1987, pursuant to the Company Rights Agreement, as amended and restated on February 14, 1996, and amended as of May 27, 1998 and March 1, 1999, which entitles holders of the Company's Common Stock, in the event certain specified events occur, to acquire 1/100 of a share of Series A Participating Preferred Stock at a price of $145 per fractional share.

F2: Award of stock pursuant to Humana Inc's 2003 Stock Incentive Plan in lieu of director fees exempt under 16(b)-3(d)(1).

F3: Reporting person indirectly owns 72 shares held by spouse.

F4: Reporting person indirectly owns 1,300 shares held by spouse as custodian for son.

F5: Reporting person indirectly owns 1,300 shares held by spouse as custodian for daughter.

F6: Reporting person indirectly owns 300 shares held in an Individual Retirement Account.

F7: Right to buy pursuant to Humana Inc.'s 1989 Stock Option Plan for Non-Employee Directors.

F8: Right to buy pursuant to Humana Inc.'s 1996 Incentive Stock Option Plan.

F9: Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.