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
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response... 0.5
                      
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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

DONOVAN MICHAEL P 		2. Issuer Name and Ticker or Trading Symbol

HEALTHEXTRAS INC [ HLEX ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CFO & EVP, Corp Dev
(Last)          (First)          (Middle)

800 KING FARM BOULEVARD, 4TH FLOOR 		3. Date of Earliest Transaction (MM/DD/YYYY)

7/1/2008
(Street)

ROCKVILLE, MD 20850
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Common Stock   7/1/2008     S (1)    200   D $29.87   67669   D    
Common Stock   7/1/2008     S (1)    900   D $29.880   66769   D    
Common Stock   7/1/2008     S (1)    589   D $29.89   66180   D    
Common Stock   7/1/2008     S (1)    300   D $29.90   65880   D    
Common Stock   7/1/2008     S (1)    1000   D $29.92   64880   D    
Common Stock   7/1/2008     S (1)    200   D $29.93   64680   D    
Common Stock   7/1/2008     S (1)    300   D $29.94   64380   D    
Common Stock   7/1/2008     S (1)    100   D $29.96   64280   D    
Common Stock   7/1/2008     S (1)    500   D $29.98   63780   D    
Common Stock   7/1/2008     S (1)    400   D $29.99   63380   D    
Common Stock   7/1/2008     S (1)    100   D $30.00   63280   D    
Common Stock   7/1/2008     S (1)    100   D $30.01   63180   D    
Common Stock   7/1/2008     S (1)    47   D $30.04   63133   D    
Common Stock   7/1/2008     S (1)    53   D $30.05   63080   D    
Common Stock   7/1/2008     S (1)    200   D $30.14   62880   D    
Common Stock   7/1/2008     F    4220   D $29.91   58660   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Employee Stock Options (right to buy)   (2) $6.62                     (2) 6/10/2012   Common Stock   258480     238480   D    

Explanation of Responses:
( 1)  Sale is pursuant to a 10b5-1 plan.
( 2)  A total of 400,000 options were granted on June 10, 2002 under the HealthExtras, Inc. 1999 Stock Option Plan. These options vested in four equal annual installments beginning on the first anniverary of the date of grant; however, all options not yet vested as of December 31, 2005 became vested and exercisable as of that date.

Remarks:
Form 2 of 2 being filed.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
DONOVAN MICHAEL P
800 KING FARM BOULEVARD
4TH FLOOR
ROCKVILLE, MD 20850

CFO & EVP, Corp Dev

Signatures
Thomas M. Farah for Michael P. Donovan by Power of Attorney 7/3/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
Healthextras (NASDAQ:HLEX)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Healthextras Charts.
Healthextras (NASDAQ:HLEX)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Healthextras Charts.