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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MARGULIS HEIDI S
  2. Issuer Name and Ticker or Trading Symbol
HUMANA INC [HUM]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior V.P.-Gov. Relations
(Last)
(First)
(Middle)
HUMANA INC., 500 WEST MAIN STREET
3. Date of Earliest Transaction (Month/Day/Year)
08/13/2007
(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 08/13/2007   M   1,905 A $ 53.96 27,846 D  
Humana Common 08/13/2007   M   8,934 A $ 32.7 36,780 D  
Humana Common 08/13/2007   M   900 A $ 21.275 37,680 D  
Humana Common 08/13/2007   M   10,000 A $ 9.26 47,680 D  
Humana Common 08/13/2007   M   15,000 A $ 9.5938 62,680 D  
Humana Common 08/13/2007   M   10,000 A $ 19.25 72,680 D  
Humana Common 08/13/2007   M   14,790 A $ 15.5938 87,470 D  
Humana Common 08/13/2007   S   300 D $ 63.16 87,170 D  
Humana Common 08/13/2007   S   2,200 D $ 63.19 84,970 D  
Humana Common 08/13/2007   S   400 D $ 63.2 84,570 D  
Humana Common 08/13/2007   S   100 D $ 63.21 84,470 D  
Humana Common 08/13/2007   S   1,500 D $ 63.22 82,970 D  
Humana Common 08/13/2007   S   700 D $ 63.23 82,270 D  
Humana Common 08/13/2007   S   1,400 D $ 63.25 80,870 D  
Humana Common 08/13/2007   S   4,200 D $ 63.26 76,670 D  
Humana Common 08/13/2007   S   300 D $ 63.27 76,370 D  
Humana Common 08/13/2007   S   400 D $ 63.28 75,970 D  
Humana Common 08/13/2007   S   700 D $ 63.29 75,270 D  
Humana Common 08/13/2007   S   200 D $ 63.3 75,070 D  
Humana Common 08/13/2007   S   500 D $ 63.31 74,570 D  
Humana Common 08/13/2007   S   4,300 D $ 63.32 70,270 D  
Humana Common 08/13/2007   S   100 D $ 63.33 70,170 D  
Humana Common 08/13/2007   S   100 D $ 63.34 70,070 D  
Humana Common 08/13/2007   S   200 D $ 63.35 69,870 D  
Humana Common 08/13/2007   S   1,200 D $ 63.38 68,670 D  
Humana Common 08/13/2007   S   42,729 D $ 0 (2) 25,941 D  
Humana Common 08/13/2007   M   14,100 D $ 21.275 40,041 D  
Humana Common               6,641 I See Footnote (1)

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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 (3) $ 15.5938 08/13/2007   M     8,700 01/15/2001 01/15/2008 Humana Common 8,700 $ 15.5938 0 D  
Options (3) $ 15.5938 08/13/2007   M     6,090 09/17/1999 09/17/2008 Humana Common 6,090 $ 15.5938 0 D  
Options (3) $ 19.25 08/13/2007   M     10,000 01/15/2002 01/15/2009 Humana Common 10,000 $ 19.25 0 D  
Options (3) $ 9.5938 08/13/2007   M     15,000 09/09/2002 09/09/2009 Humana Common 15,000 $ 9.5938 0 D  
Options (5) $ 32.7 08/13/2007   M     8,934   (7) 02/24/2012 Humana Common 8,934 $ 32.7 4,466 D  
Options (3) $ 9.26 08/13/2007   M     10,000   (4) 03/13/2013 Humana Common 10,000 $ 9.26 0 D  
Options (5) $ 21.275 08/13/2007   M     15,000   (6) 02/24/2014 Humana Common 15,000 $ 21.275 0 D  
Options (5) $ 53.96 08/13/2007   M     1,905   (8) 02/23/2013 Humana Common 1,905 $ 53.96 3,808 D  
Options (5) $ 62.1               (9) 02/22/2014 Humana Common 4,758   4,758 D  
Phantom Stock Units (10)               (10)   (10) Humana Common 345   345 I See Footnote (10)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MARGULIS HEIDI S
HUMANA INC.
500 WEST MAIN STREET
LOUISVILLE, KY 40202
      Senior V.P.-Gov. Relations  

Signatures

 Heidi S. Margulis   08/14/2007
**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) Stock units held for reporting person's benefit as of July 31, 2007 under the Humana Retirement & Savings Plan, including a routine disposition of shares to fund an administrative fee assessment under a Tax-Conditioned Plan, both exempt under Rule 16b-3(c).
(2) Reporting person sold additional shares as follows: 200 shares @ $63.39; 700 shares @ 63.40; 3900 shares @ 63.41; 2600 shares @ 63.42; 400 shares @ 63.44; 2700 shares @ 63.45; 2900 shares @ 63.46; 4700 shares @ 63.47; 2300 shares @ 63.48; 100 shares @ 63.50; 100 shares @ 63.52; 400 shares @ 63.54; 200 shares @ 63.57; 1100 shares @ 63.60; 300 shares @ 63.61; 1800 shares @ 63.63; 200 shares @ 63.64; 200 shares @ 63.65; 200 shares @ 63.66; 500 shares @ 63.67; 3800 shares @ 63.68; 100 shares @ 63.69; 3600 shares @ 63.70; 300 shares @ 63.71; 100 shares @ 63.72; 300 shares @ 63.73; 900 shares @ 63.74; 900 shares @ 63.75; 3900 shares @ 63.76; 1600 shares @ 63.77; 1000 shares @ 63.79; 300 shares @ 63.80; 100 shares @ 63.81; and 329 shares @ 64.02.
(3) Right to buy pursuant to Humana Inc.'s 1996 Stock Incentive Plan for Employees.
(4) Stock Options granted to reporting person on 3/13/03 vesting in thirds from 3/13/04 to 3/13/06.
(5) Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.
(6) Non-Qualified and Incentive Stock Options granted to reporting person on 2/24/04, vesting in three increments from 2/24/05 to 2/24/07.
(7) Incentive and Non-Qualified stock options granted to reporting person on 2/24/05, NQ options vesting in three increments from 2/24/06 to 2/24/08, and ISO's vesting on 2/24/08.
(8) Incentive and Non-Qualified stock options granted to reporting person on 2/23/06, NQ options vesting in three increments from 2/23/07 to 2/23/09, and ISO's vesting on 2/23/09.
(9) Incentive and Non-Qualified stock options granted to reporting person on 2/22/07, NQ options vesting in three increments from 2/22/08 to 2/22/10, and ISO's vesting on 2/22/10.
(10) Phantom Stock Units held for the benefit of reporting person as of July 31, 2007, based on the value of Humana common stock on a 1-for-1 basis, under the Humana Excess Plan exempt under Rule 16b-3(c and d).

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