content: <HTML>
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  <TITLE>UNITED STATES</TITLE>
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  <B><FONT SIZE=2><P ALIGN="CENTER">UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION<BR>
  Washington, D.C. 20549<BR>
  </P>
  <P ALIGN="CENTER">FORM 144</B></FONT></TD>
  <TD WIDTH="20%" VALIGN="TOP" COLSPAN=2 HEIGHT=3>
  <B><FONT SIZE=1><P ALIGN="CENTER">OMB APPROVAL</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="20%" VALIGN="TOP" COLSPAN=2 HEIGHT=3>
  <B><FONT SIZE=1><P>OMB Number 3235-0101</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="20%" VALIGN="TOP" COLSPAN=2 HEIGHT=3>
  <B><FONT SIZE=1><P>Expires:  August 31, 2003</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="20%" VALIGN="TOP" COLSPAN=2 HEIGHT=3>
  <B><FONT SIZE=1><P>Estimated average burden<BR>
  hours per response...2.0</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="80%" VALIGN="TOP" COLSPAN=2 ROWSPAN=4 HEIGHT=14>
  <B><FONT SIZE=2><P><BR>
  </P>
  <P ALIGN="CENTER">NOTICE OF PROPOSED SALE OF SECURITIES<BR>
  PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933</P>
  
  </FONT><FONT FACE="Univers,Arial" SIZE=1><P>ATTENTION:&nbsp;&nbsp;Transmit for filing 3 copies of this form concurrently with either placing an order with a broker to execute sale or executing a sale <BR>
  directly with a market maker</B></FONT></TD>
  <TD WIDTH="20%" VALIGN="TOP" HEIGHT=14>
  <B><FONT SIZE=1><P ALIGN="CENTER">SEC USE ONLY</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="20%" VALIGN="TOP" HEIGHT=14>
  <B><FONT SIZE=1><P>DOCUMENT SEQUENCE NO.<BR>
  </B></FONT></TD>
  </TR>
  <TR><TD WIDTH="20%" VALIGN="TOP" HEIGHT=14>
  <B><FONT SIZE=1><P>CUSIP NUMBER<BR>
  </B></FONT></TD>
  </TR>
  <TR><TD WIDTH="20%" VALIGN="TOP" HEIGHT=14>
  <B><FONT SIZE=1><P>WORK LOCATION<BR>
  </B></FONT></TD>
  </TR>
  </TABLE>
  
  <FONT SIZE=2></FONT>
  <TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=992>
  <TR><TD WIDTH="75%" VALIGN="TOP" COLSPAN=12 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>1&nbsp;&nbsp;(a)&nbsp;&nbsp;NAME OF ISSUER (Please type or print)<BR>
  </B>Humana Inc.</FONT></TD>
  <TD WIDTH="13%" VALIGN="TOP" HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(b) IRS IDENT. NO.<BR>
  </B>61-0647538</FONT></TD>
  <TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(c) S.E.C. FILE NO.<BR>
  </B>1-5975</FONT></TD>
  </TR>
  <TR><TD WIDTH="75%" VALIGN="TOP" COLSPAN=12 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>1&nbsp;&nbsp;(d)&nbsp;&nbsp;ADDRESS OF ISSUER STREET CITY STATE ZIP CODE</B></FONT></TD>
  <TD WIDTH="25%" VALIGN="TOP" COLSPAN=3 HEIGHT=14><P></P></TD>
  </TR>
  <TR><TD WIDTH="75%" VALIGN="TOP" COLSPAN=12 ROWSPAN=2 HEIGHT=14>
  <FONT FACE="Univers,Arial" SIZE=1>
  <P>500 West Main Street, Louisville, KY 40202</FONT></TD>
  <TD WIDTH="25%" VALIGN="TOP" COLSPAN=3 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="CENTER">(e) TELEPHONE</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="13%" VALIGN="TOP" HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="CENTER">AREA CODE<BR>
  502</B></FONT></TD>
  <TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="CENTER">NUMBERS<BR>
  580-1000</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="36%" VALIGN="TOP" COLSPAN=5 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>2(a)&nbsp;&nbsp;NAME OF PERSON FOR WHOSE ACCOUNT THE <BR>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITIES ARE TO BE SOLD<BR>
  </B>Heidi S. Margulis</FONT></TD>
  <TD WIDTH="14%" VALIGN="TOP" COLSPAN=5 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(b) IRS IDENT.<BR>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NO.<BR>
  </B>N/A</FONT></TD>
  <TD WIDTH="13%" VALIGN="TOP" HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(c) RELATIONSHIP TO<BR>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISSUER<BR>
  </B>Sr. VP-Gov. Relations</P>
  <B></B></FONT></TD>
  <TD WIDTH="38%" VALIGN="TOP" COLSPAN=4 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(d) ADDRESS STREET CITY STATE ZIP CODE<BR>
  </B>500 W. Main West<BR>
  Louisville, KY   40202</FONT></TD>
  </TR>
  <TR><TD VALIGN="TOP" COLSPAN=15 HEIGHT=14>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="CENTER">INSTRUCTION:&nbsp;&nbsp;&nbsp;The person filing this notice should contact the issuer to obtain the I.R.S. identification Number and the S.E.C. File Number</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="10%" VALIGN="TOP" COLSPAN=3 ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>3&nbsp;&nbsp;&nbsp;Title of the (a)&nbsp;&nbsp;Class of Securities To Be Sold</B></FONT></TD>
  <TD WIDTH="19%" VALIGN="TOP" ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(b)&nbsp;&nbsp;Name and Address of Each<BR>
  Broker Through whom the <BR>
  Securities Are To Be Offered<BR>
  or Each Market Maker who <BR>
  is Acquiring the Securities</B></FONT></TD>
  <TD WIDTH="7%" VALIGN="TOP" COLSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>SEC USE ONLY</B></FONT></TD>
  <TD WIDTH="14%" VALIGN="TOP" COLSPAN=4 ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(c)&nbsp;&nbsp;Number of Shares <BR>
  or Other Units To Be<BR>
  Sold<BR>
  (See Instr. 3 (c))</B></FONT></TD>
  <TD WIDTH="13%" VALIGN="TOP" ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(d)&nbsp;&nbsp;Aggregate<BR>
  Market Value<BR>
  </B>(See Instr. 3(d)</FONT></TD>
  <TD WIDTH="13%" VALIGN="TOP" ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(e)&nbsp;&nbsp;Number of Shares<BR>
  or Other Units<BR>
  Outstanding<BR>
  </B>(See Instr. 3(e<B>))</B></FONT></TD>
  <TD WIDTH="14%" VALIGN="TOP" COLSPAN=2 ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(f)&nbsp;&nbsp;Approximate Date<BR>
  of Sale<BR>
  </B>(See Instr. 3(f)<BR>
  MO. DAY YR.)</FONT></TD>
  <TD WIDTH="11%" VALIGN="TOP" ROWSPAN=2 HEIGHT=41>
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(g)&nbsp;&nbsp;Name of Each<BR>
  Securities <BR>
  Exchange<BR>
  </B>(See instr. 3 (g))</FONT></TD>
  </TR>
  <TR><TD WIDTH="7%" VALIGN="TOP" COLSPAN=2 HEIGHT=35>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="CENTER">Broker-Dealer<BR>
  File Number</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="10%" VALIGN="TOP" COLSPAN=3 HEIGHT=14>
  <FONT SIZE=2><P>Common<BR>
  </FONT></TD>
  <TD WIDTH="19%" VALIGN="TOP" HEIGHT=14>
  <FONT SIZE=2><P>Hilliard-Lyons<BR>
  4801 Olympia Park Plaza<BR>
  Suite 1000</P>
  <P>Louisville, KY  40241</FONT></TD>
  <TD WIDTH="7%" VALIGN="TOP" COLSPAN=2 HEIGHT=14><P></P></TD>
  <TD WIDTH="14%" VALIGN="TOP" COLSPAN=4 HEIGHT=14>
  <FONT SIZE=2><P>15,000</FONT></TD>
  <TD WIDTH="13%" VALIGN="TOP" HEIGHT=14>
  <FONT SIZE=2><P>$255,900<BR>
  </FONT><FONT SIZE=1>(Based on FMV on 08/21/03 of $17.06)</FONT></TD>
  <TD WIDTH="13%" VALIGN="TOP" HEIGHT=14>
  <FONT SIZE=2><P>161,790,510<BR>
  as of 07/30/03</FONT></TD>
  <TD WIDTH="14%" VALIGN="TOP" COLSPAN=2 HEIGHT=14>
  <FONT SIZE=2><P>August 25, 2003</FONT></TD>
  <TD WIDTH="11%" VALIGN="TOP" HEIGHT=14>
  <FONT SIZE=2><P>NYSE</FONT></TD>
  </TR>
  <TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=7 ROWSPAN=5>
  <FONT SIZE=1><P ALIGN="JUSTIFY">INSTRUCTIONS:<BR>
  1.&nbsp;&nbsp;(a)&nbsp;&nbsp;Name of Issuer</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Issuer's I.R.S. Identification Number</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Issuer's S.E.C. file number, if any</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;Issuer's address, including zip code</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;Issuer's telephone number, including area code</FONT></TD>
  <TD WIDTH="59%" VALIGN="TOP" COLSPAN=8 ROWSPAN=7>
  <FONT SIZE=1><P ALIGN="JUSTIFY">3.&nbsp;&nbsp;(a)&nbsp;&nbsp;Title of the class of securities to be sold</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Name and Address of each broker through whom the securities are intended to be sold</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Number of shares or other units to be sold (if debt securities, give the aggregate face amount)</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;Aggregate market value of the securities to be sold as of a specified date within 10 days prior to the filing of &nbsp;this notice</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;Number of shares or other units of the class outstanding, or if debt securities the face amount thereof &nbsp;outstanding, as shown by the most recent report or statement published by the issuer</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;Approximate date on which the securities are to be sold</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;Name of each securities exchange, if any, on which the securities are intended to be sold</FONT></TD>
  </TR>
  <TR></TR>
  <TR></TR>
  <TR></TR>
  <TR></TR>
  <TR><TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="36%" VALIGN="TOP" COLSPAN=5>&nbsp;</TD>
  </TR>
  <TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=7 ROWSPAN=4>
  <FONT SIZE=1><P ALIGN="JUSTIFY">2.&nbsp;&nbsp;(a)&nbsp;&nbsp;Name of person for whose account the securities are to be sold</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Such person's I.R.S. identification number, if such person is an entity</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Such person's relationship to the issuer (e.g., officer, director, 10% stockholder, or &nbsp;member of immediate family of any of the foregoing</P>
  <P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;Such persons's address, including zip code</FONT></TD>
  </TR>
  <TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="53%" VALIGN="TOP" COLSPAN=6>&nbsp;</TD>
  </TR>
  <TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="53%" VALIGN="TOP" COLSPAN=6>&nbsp;</TD>
  </TR>
  <TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="53%" VALIGN="TOP" COLSPAN=6>&nbsp;</TD>
  </TR>
  <TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=7>&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="53%" VALIGN="TOP" COLSPAN=6>&nbsp;</TD>
  </TR>
  <TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=7>
  <FONT SIZE=1><P ALIGN="JUSTIFY">Form 144</FONT></TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="53%" VALIGN="TOP" COLSPAN=6>
  <FONT SIZE=1><P ALIGN="RIGHT">Page 1 of 2</FONT></TD>
  </TR>
  </TABLE>
  
  <FONT SIZE=1>
  <P>&nbsp;</P>
  <P>&nbsp;</P></FONT>
  <TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=992>
  <TR><TD VALIGN="TOP" COLSPAN=7 HEIGHT=34>
  <B><FONT SIZE=1><P ALIGN="CENTER">TABLE - SECURITIES TO BE SOLD<BR>
  Furnish the following information with respect to the acquisition of the securities to be sold <BR>
  and with respect to the payment of all or any part of the purchase price or other consideration therefor.</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="10%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Title of the Class</B></FONT></TD>
  <TD WIDTH="10%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Date you Acquired</B></FONT></TD>
  <TD WIDTH="18%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Nature of Acquisition Transaction</B></FONT></TD>
  <TD WIDTH="20%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Name of the Person from Whom Acquired (if gift, also give date donor acquired</B></FONT></TD>
  <TD WIDTH="12%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Amount of Securities Acquired</B></FONT></TD>
  <TD WIDTH="15%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Date of Payment</B></FONT></TD>
  <TD WIDTH="15%" VALIGN="TOP" HEIGHT=39>
  <B><FONT SIZE=1><P ALIGN="CENTER">Nature of Payment</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="10%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">Common</FONT></TD>
  <TD WIDTH="10%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">08/07/03</FONT></TD>
  <TD WIDTH="18%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">Restricted Stock Award</FONT></TD>
  <TD WIDTH="20%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">Issuer</FONT></TD>
  <TD WIDTH="12%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">15,000</FONT></TD>
  <TD WIDTH="15%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">N/A</FONT></TD>
  <TD WIDTH="15%" VALIGN="TOP" HEIGHT=10>
  <FONT SIZE=1><P ALIGN="CENTER">N/A</FONT></TD>
  </TR>
  <TR><TD WIDTH="10%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  <TD WIDTH="10%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  <TD WIDTH="18%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  <TD WIDTH="20%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  <TD WIDTH="12%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  <TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  <TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
  </TR>
  </TABLE>
  
  <FONT SIZE=1><P ALIGN="JUSTIFY"></P>
  <P ALIGN="JUSTIFY">INSTRUCTIONS:<BR>
  1.&nbsp;&nbsp;&nbsp;If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given.  If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.</P>
  <P ALIGN="JUSTIFY"><BR>
  2.&nbsp;&nbsp;&nbsp;If within two years after the acquisition of the securities the person for whose account they are to be sold had any short positions, put or other option to dispose of securities referred to in paragraph (d)(3) of Rule 144, furnish full information with respect thereto.</P></FONT>
  <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=930>
  <TR><TD VALIGN="TOP" HEIGHT=14>
  <B><U><FONT SIZE=1><P ALIGN="JUSTIFY">_____________________________________________________________________________________________________________________________________________________________________________</B></U></FONT></TD>
  </TR>
  </TABLE>
  
  <B><U><FONT SIZE=1><P ALIGN="JUSTIFY"></P></B></U></FONT>
  <TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=995>
  <TR><TD VALIGN="TOP" COLSPAN=5 HEIGHT=8>
  <B><U><FONT SIZE=1><P ALIGN="CENTER"><BR>
  </U>TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS (1)<BR>
  Furnish the following information as to all securities of the issuer sold<BR>
  During the past 3 months by the person for whose account the securities are to be sold.</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="21%" VALIGN="TOP" HEIGHT=8>
  <B><FONT SIZE=1><P>Name and Address of Seller</B></FONT></TD>
  <TD WIDTH="19%" VALIGN="TOP" HEIGHT=8>
  <B><FONT SIZE=1><P>Title of Securities Sold</B></FONT></TD>
  <TD WIDTH="14%" VALIGN="TOP" HEIGHT=8>
  <B><FONT SIZE=1><P>Date of Sale</B></FONT></TD>
  <TD WIDTH="24%" VALIGN="TOP" HEIGHT=8>
  <B><FONT SIZE=1><P>Amount of Securities Sold</B></FONT></TD>
  <TD WIDTH="22%" VALIGN="TOP" HEIGHT=8>
  <B><FONT SIZE=1><P>Gross Proceeds</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="21%" VALIGN="TOP" HEIGHT=8>
  <FONT SIZE=1><P>N/A</FONT></TD>
  <TD WIDTH="19%" VALIGN="TOP" HEIGHT=8><P></P></TD>
  <TD WIDTH="14%" VALIGN="TOP" HEIGHT=8><P></P></TD>
  <TD WIDTH="24%" VALIGN="TOP" HEIGHT=8>
  <FONT SIZE=1><P>None</FONT></TD>
  <TD WIDTH="22%" VALIGN="TOP" HEIGHT=8><P></P></TD>
  </TR>
  </TABLE>
  
  <U><FONT SIZE=1><P ALIGN="JUSTIFY"></P></U></FONT>
  <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=954>
  <TR><TD VALIGN="TOP">
  <B><FONT SIZE=1><P ALIGN="JUSTIFY">REMARKS:</P>
  </B><P ALIGN="JUSTIFY"></FONT></TD>
  </TR>
  </TABLE>
  
  <B><FONT SIZE=1><P ALIGN="JUSTIFY">&nbsp;</P></B></FONT>
  <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=943>
  <TR><TD WIDTH="47%" VALIGN="TOP">
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">INSTRUCTIONS:</B></FONT></TD>
  <TD WIDTH="53%" VALIGN="TOP">
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">ATTENTION:</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="47%" VALIGN="TOP" HEIGHT=76>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">See the definition of "person" in paragraph (a) 9 of Rule 144.</P>
  <P ALIGN="JUSTIFY">Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition.  In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.</P>
  <P ALIGN="JUSTIFY"></B></FONT></TD>
  <TD WIDTH="53%" VALIGN="TOP" HEIGHT=76>
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the issuer of the securities to be sold which has not been publicly disclosed.</B></FONT></TD>
  </TR>
  </TABLE>
  
  <B><FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August 25, 2003&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Heidi S. Margulis</P></B></FONT>
  <P ALIGN="LEFT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=564>
  <TR><TD WIDTH="48%" VALIGN="TOP">
  <FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">_______________________________________________</FONT></TD>
  <TD WIDTH="52%" VALIGN="TOP">
  <FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY">___________________________________________________</FONT></TD>
  </TR>
  <TR><TD WIDTH="48%" VALIGN="TOP">
  <B><FONT FACE="Univers,Arial" SIZE=1><P>DATE OF NOTICE</B></FONT></TD>
  <TD WIDTH="52%" VALIGN="TOP">
  <B><FONT FACE="Univers,Arial" SIZE=1><P>(SIGNATURE)</B></FONT></TD>
  </TR>
  <TR><TD WIDTH="48%" VALIGN="TOP">&nbsp;</TD>
  <TD WIDTH="52%" VALIGN="TOP">
  <B><FONT FACE="Univers,Arial" SIZE=1><P>HEIDI S. MARGULIS</B></FONT></TD>
  </TR>
  </TABLE>
  </P>
  
  <FONT FACE="Univers,Arial" SIZE=1><P ALIGN="JUSTIFY"></P>
  <P ALIGN="JUSTIFY">&#9;</FONT><FONT SIZE=1>This notice shall be signed by the person for whose account the securities are to be sold.  At least one copy of the notice shall be manually signed.</P>
  <P ALIGN="JUSTIFY"><BR>
  &#9;Any copies not manually signed shall bear typed or printed signatures.</P>
  <P ALIGN="JUSTIFY"><BR>
  </P></FONT>
  <TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=333>
  <TR><TD VALIGN="TOP" HEIGHT=34>
  <B><FONT SIZE=1><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATTENTION:</P>
  <P>Intentional misstatements or omission of facts constitute</FONT><FONT SIZE=2> <BR>
  </FONT><FONT SIZE=1>        Federal Criminal Violations (See 18 U.S.C. 1001)</B></FONT></TD>
  </TR>
  </TABLE>
  
  <FONT SIZE=2><P ALIGN="JUSTIFY"></P></FONT></BODY>
  </HTML>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "fm144margulis.htm", "description": "HUMANA INC. - HEIDI S. MARGULIS", "secsgml_size_bytes": 18874}]
text: UNITED STATES
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM 144
  OMB APPROVAL
  OMB Number 3235-0101
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  NOTICE OF PROPOSED SALE OF SECURITIES
  PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
  ATTENTION:  Transmit for filing 3 copies of this form concurrently with either placing an order with a broker to execute sale or executing a sale
  directly with a market maker
  SEC USE ONLY
  DOCUMENT SEQUENCE NO.
  CUSIP NUMBER
  WORK LOCATION
  1  (a)  NAME OF ISSUER (Please type or print)
  Humana Inc.
  (b) IRS IDENT. NO.
  61-0647538
  (c) S.E.C. FILE NO.
  1-5975
  1  (d)  ADDRESS OF ISSUER STREET CITY STATE ZIP CODE
  500 West Main Street, Louisville, KY 40202
  (e) TELEPHONE
  AREA CODE
  502
  NUMBERS
  580-1000
  2(a)  NAME OF PERSON FOR WHOSE ACCOUNT THE
  SECURITIES ARE TO BE SOLD
  Heidi S. Margulis
  (b) IRS IDENT.
  NO.
  N/A
  (c) RELATIONSHIP TO
  ISSUER
  Sr. VP-Gov. Relations
  (d) ADDRESS STREET CITY STATE ZIP CODE
  500 W. Main West
  Louisville, KY   40202
  INSTRUCTION:   The person filing this notice should contact the issuer to obtain the I.R.S. identification Number and the S.E.C. File Number
  3   Title of the (a)  Class of Securities To Be Sold
  (b)  Name and Address of Each
  Broker Through whom the
  Securities Are To Be Offered
  or Each Market Maker who
  is Acquiring the Securities
  SEC USE ONLY
  (c)  Number of Shares
  or Other Units To Be
  Sold
  (See Instr. 3 (c))
  (d)  Aggregate
  Market Value
  (See Instr. 3(d)
  (e)  Number of Shares
  or Other Units
  Outstanding
  (See Instr. 3(e
  ))
  (f)  Approximate Date
  of Sale
  (See Instr. 3(f)
  MO. DAY YR.)
  (g)  Name of Each
  Securities
  Exchange
  (See instr. 3 (g))
  Broker-Dealer
  File Number
  Common
  Hilliard-Lyons
  4801 Olympia Park Plaza
  Suite 1000
  Louisville, KY  40241
  15,000
  $255,900
  (Based on FMV on 08/21/03 of $17.06)
  161,790,510
  as of 07/30/03
  August 25, 2003
  NYSE
  INSTRUCTIONS:
  1.  (a)  Name of Issuer
  (b)  Issuer's I.R.S. Identification Number
  (c)  Issuer's S.E.C. file number, if any
  (d)  Issuer's address, including zip code
  (e)  Issuer's telephone number, including area code
  3.  (a)  Title of the class of securities to be sold
  (b)  Name and Address of each broker through whom the securities are intended to be sold
  (c)  Number of shares or other units to be sold (if debt securities, give the aggregate face amount)
  (d)  Aggregate market value of the securities to be sold as of a specified date within 10 days prior to the filing of  this notice
  (e)  Number of shares or other units of the class outstanding, or if debt securities the face amount thereof  outstanding, as shown by the most recent report or statement published by the issuer
  (f)  Approximate date on which the securities are to be sold
  (g)  Name of each securities exchange, if any, on which the securities are intended to be sold
  2.  (a)  Name of person for whose account the securities are to be sold
  (b)  Such person's I.R.S. identification number, if such person is an entity
  (c)  Such person's relationship to the issuer (e.g., officer, director, 10% stockholder, or  member of immediate family of any of the foregoing
  (d)  Such persons's address, including zip code
  Form 144
  Page 1 of 2
  TABLE - SECURITIES TO BE SOLD
  Furnish the following information with respect to the acquisition of the securities to be sold
  and with respect to the payment of all or any part of the purchase price or other consideration therefor.
  Title of the Class
  Date you Acquired
  Nature of Acquisition Transaction
  Name of the Person from Whom Acquired (if gift, also give date donor acquired
  Amount of Securities Acquired
  Date of Payment
  Nature of Payment
  Common
  08/07/03
  Restricted Stock Award
  Issuer
  15,000
  N/A
  N/A
  INSTRUCTIONS:
  1.   If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given.  If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.
  2.   If within two years after the acquisition of the securities the person for whose account they are to be sold had any short positions, put or other option to dispose of securities referred to in paragraph (d)(3) of Rule 144, furnish full information with respect thereto.
  _____________________________________________________________________________________________________________________________________________________________________________
  TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS (1)
  Furnish the following information as to all securities of the issuer sold
  During the past 3 months by the person for whose account the securities are to be sold.
  Name and Address of Seller
  Title of Securities Sold
  Date of Sale
  Amount of Securities Sold
  Gross Proceeds
  N/A
  None
  REMARKS:
  INSTRUCTIONS:
  ATTENTION:
  See the definition of "person" in paragraph (a) 9 of Rule 144.
  Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition.  In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
  The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the issuer of the securities to be sold which has not been publicly disclosed.
  August 25, 2003                                                 /s/ Heidi S. Margulis
  _______________________________________________
  ___________________________________________________
  DATE OF NOTICE
  (SIGNATURE)
  HEIDI S. MARGULIS
  This notice shall be signed by the person for whose account the securities are to be sold.  At least one copy of the notice shall be manually signed.
  Any copies not manually signed shall bear typed or printed signatures.
  ATTENTION:
  Intentional misstatements or omission of facts constitute
  Federal Criminal Violations (See 18 U.S.C. 1001)