Some of the significant changes in health law attributable to the Affordable Care Act will go into effect on January 1, 2013, including requirements that health insurers provide easy-to-read plan summaries (“Summary of Benefits and Coverage”) and that flexible spending accounts be capped at $2,500. In addition, health insurers will be more limited in their ability to place caps on annual spending, providing relief for insured persons with chronic or costly medical conditions. And while premiums will go up for many Americans, the rate of those increases has slowed, in part because insurers must use 80 percent of the premium dollars they receive on medical care or give rebates to consumers. These changes are expected to take place regardless of the outcome of the upcoming election given that Democrats will likely retain control of the Senate even under a Romney presidency. On the other hand, the more significant changes set for 2014, including health insurance exchanges and tax credits to help Americans purchase health insurance, could be impacted by the political environment. For more information, click here.