By Bill O'Reilly
It could be the biggest financial con in American history. As we reported Tuesday night, health insurance premiums all over America are rising fast.
My own premium went up $2,100. I'm now paying north of $20,000 a year to insure four people, and chances are you are getting the same kind of treatment.
However, the health insurance companies are doing pretty well. The heads of the five biggest ones were paid almost $200 million last year.
The guy who runs CIGNA recently retired with a package worth $111 million. Hey, Ed Hanway, this con is for you.
While the premiums go up for working people and businesses, so do health company profits.
For example, Aetna's net income jumped 40 percent from year to year. Meanwhile in California, WellPoint wanted to raise its rates 39 percent while its CEO's compensation jumped 51 percent.
Sickening, pardon the pun.
So why are we being gouged?
As we stated Wednesday night, American health insurance companies are building in the anticipated costs of Obamacare. For the next four years until the Obamacare program completely kicks in in 2014, all Americans are going to be hammered as the insurance companies try to make as much money as they can before the federal rules are imposed.
I don't know about you, but I never heard this part of Obamacare. I was never told that my insurance rates were going to run wild.
Were you told that? Did President Obama mention that? I don't believe he did.
I can afford the $2,100, and I know I'll pay more in the years to come. But maybe you can't afford it. So what are you going to do?
The only thing you can do is cut back your coverage, leaving yourself exposed if something bad happens to you or a family member.
It's not about ideology; it's about the feds trying to run the health care industry when they simply can't do it.
These insurance companies are very powerful. They know we need them. Yeah, the states could deny their rate increases, but they won't for a variety of reasons.
So in a time of recession, in a time when money is tight, most of us are going to pay a hell of a lot more for our health insurance. Period.
And that's "The Memo."
Pinheads & Patriots
Down in New Orleans, there is a weather-lady who has a rather unique delivery.
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MOLLY ROSENBLATT, WEATHER FORECASTER: May be thunder off the coast when the sun early shines. And do it in the sky when the sun's high rise. Hot and humid is the scene, cooling shower you can feel. Almost just like picking cases, deal or no deal. Word. That's my weather rap.
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The lady's name is Molly Rosenblatt, and you can decide if she's a patriot.
On the pinhead front, baseball is supposed to be a civilized game, but Tuesday night the Cincinnati Reds and St. Louis Cardinals had a brawl.
Pinheads? I think so. There were lots of kids in the stands.