HUMANA INC — Director's Dealing 2008

Nov 24, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HUMANA INC (HUM)
CIK: 0000049071
Period of Report: 2008-11-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-11-21	Humana Common	P	4250	$23.6145	Acquired	395467	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	$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
Stock Units	$40.77		Humana Common (3342)	3342	Direct

Footnotes

F1: Reporting person indirectly owns 72 shares held by spouse.

F2: Reporting person indirectly owns 1,300 shares held by spouse as custodian for son.

F3: Reporting person indirectly owns 1,300 shares held by spouse as custodian for daughter.

F4: Reporting person indirectly owns 300 shares held in an Individual Retirement Account.

F5: Right to buy pursuant to Humana Inc.'s 1989 Stock Option Plan for Non-Employee Directors.

F6: Right to buy pursuant to Humana Inc.'s 1996 Incentive Stock Option Plan.

F7: Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.

F8: Director's cash fee elected to be converted into stock units, deferred at the election of the reporting person until his resignation of services as a director at which time the stock units will be payable in Humana Inc. common stock on a 1-for-1 basis, exempt pursuant to Rule 16(b)-3(d)(1).