America Breaking News: Florida, Georgia Say Insurance Rates to Spike Under Obamacare

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America Breaking News: Florida, Georgia Say Insurance Rates to Spike Under Obamacare

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America Breaking News: Florida, Georgia Say Insurance Rates to Spike Under Obamacare

Wochit 0:58 mins

Florida and Georgia, two states where politicians oppose U.S. President Barack Obama's healthcare law, said that insurance rates for individuals would rise sharply in 2014, almost 200 percent in some cases under the reform. Dozens of major U.S. companies, including Morgan Stanley, Google, Wal-Mart and Dell, on Tuesday urged lawmakers to pass bills that they said would protect new products against "extortive demands" on patents. Home values are rising as more people are bidding on a relatively tight supply of houses for sale. Home prices jumped 12.2 percent in May compared with a year earlier, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening.

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