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 *
GELLERT MICHAEL E
   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)
WINDCREST PARTNERS, 122 EAST 42ND STREET, 34TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
12/23/2004
(Street)

NEW YORK, NY 10168		 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) 12/23/2004   G   67,000 D $ 0 56,837 D  
Humana Common 12/23/2004   G   67,000 A $ 0 67,000 I Trust (5)

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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 (2) $ 26.9375             01/02/1997 01/02/2006 Humana Common (1) 5,000   5,000 D  
Options (2) $ 18.9375             01/02/1998 01/02/2007 Humana Common (1) 5,000   5,000 D  
Options (2) $ 21.25             01/02/1999 01/02/2008 Humana Common (1) 5,000   5,000 D  
Options (2) $ 18.7813             01/04/2000 01/04/2009 Humana Common (1) 5,000   5,000 D  
Options (2) $ 7.875             01/03/2001 01/03/2010 Humana Common (1) 5,000   5,000 D  
Options (2) $ 14.7813             01/02/2002 01/02/2011 Humana Common (1) 5,000   5,000 D  
Options (2) $ 11.55             01/02/2003 01/02/2012 Humana Common (1) 5,000   5,000 D  
Options (3) $ 10.19             01/02/2004 01/02/2013 Humana Common (1) 5,000   5,000 D  
Options (4) $ 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
GELLERT MICHAEL E
WINDCREST PARTNERS
122 EAST 42ND STREET, 34TH FLOOR
NEW YORK, NY 10168		   X      

Signatures

 Michael E. Gellert   12/23/2004
**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) Right to buy pursuant to Humana Inc.'s 1989 Stock Option Plan for Non-Employee Directors.
(3) Right to buy pursuant to Humana Inc.'s 1996 Incentive Stock Option Plan.
(4) Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.
(5) Transfer to The Michael E Gellert 2004 Annuity Trust. Reporting person disclaims beneficial ownership of Company stock held by the Trust except to the extent of his pecuniary interest.

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