Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
JONES DAVID A JR/KY
   2. Issuer Name and Ticker or Trading Symbol
HUMANA INC [HUM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
CHRYSALIS VENTURES, INC., 101 S. FIFTH STREET, SUITE 1650		 3. Date of Earliest Transaction (Month/Day/Year)
01/03/2005
(Street)

LOUISVILLE, KY 40202		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Humana Common (1) 01/03/2005   M   5,000 A $ 22.4375 250,378 D  
Humana Common (1) 01/03/2005   A(2)   3,400 A $ 29.415 253,778 D  
Humana Common (1)               72 I See Footnote (3)
Humana Common (1)               1,300 I See Footnote (4)
Humana Common (1)               1,300 I See Footnote (5)
Humana Common (1)               300 I See Footnote (6)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options (7) $ 22.4375 01/03/2005   M     5,000 01/03/1996 01/03/2005 Humana Common (1) 5,000 $ 22.4375 0 D  
Options (7) $ 26.9375             01/02/1997 01/02/2006 Humana Common (1) 5,000   5,000 D  
Options (8) $ 19.3125             11/14/1999 11/14/2006 Humana Common (1) 85,000   85,000 D  
Options (7) $ 18.9375             01/02/1998 01/02/2007 Humana Common (1) 5,000   5,000 D  
Options (8) $ 21.9375             03/25/2000 03/25/2007 Humana Common (1) 40,000   40,000 D  
Options (7) $ 21.25             01/02/1999 01/02/2008 Humana Common (1) 5,000   5,000 D  
Options (8) $ 20.1563             01/15/2001 01/15/2008 Humana Common (1) 40,000   40,000 D  
Options (7) $ 18.7813             01/04/2000 01/04/2009 Humana Common (1) 5,000   5,000 D  
Options (7) $ 19.25             01/15/2002 01/15/2009 Humana Common (1) 40,000   40,000 D  
Options (7) $ 7.875             01/03/2001 01/03/2010 Humana Common (1) 5,000   5,000 D  
Options (8) $ 14.7813             01/02/2002 01/02/2011 Humana Common (1) 5,000   5,000 D  
Options (8) $ 11.55             01/02/2003 01/02/2012 Humana Common (1) 5,000   5,000 D  
Options (8) $ 10.19             01/02/2004 01/02/2013 Humana Common (1) 5,000   5,000 D  
Options (9) $ 23.05             01/02/2005 01/02/2014 Humana Common (1) 2,500   2,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
JONES DAVID A JR/KY
CHRYSALIS VENTURES, INC.
101 S. FIFTH STREET, SUITE 1650
LOUISVILLE, KY 40202		   X      

Signatures

 David A. Jones, Jr.   01/03/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 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.
(2) Award of stock pursuant to Humana Inc's 2003 Stock Incentive Plan in lieu of director fees exempt under 16(b)-3(d)(1).
(3) Reporting person indirectly owns 72 shares held by spouse.
(4) Reporting person indirectly owns 1,300 shares held by spouse as custodian for son.
(5) Reporting person indirectly owns 1,300 shares held by spouse as custodian for daughter.
(6) Reporting person indirectly owns 300 shares held in an Individual Retirement Account.
(7) Right to buy pursuant to Humana Inc.'s 1989 Stock Option Plan for Non-Employee Directors.
(8) Right to buy pursuant to Humana Inc.'s 1996 Incentive Stock Option Plan.
(9) Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.