As if things were not complicated enough, there has been a flood of corporate money into the political arena - thanks to the Supreme Court under Roberts in the case of Citizens United vs. FEC. It would not be unfair to describe the current situation as watching a waking giant suddenly walk through the campaign landscape. Anonymous donors are funding attack ads and the spread of highly misleading information about the current economic situation in general and the healthcare reforms in particular. As we head off to the polls, it's therefore wise to draw breath and consider the extent of the dishonesty. Frankly, it's no wonder the electorate are anxious and confused.

So let's start with a few basics. First, the majority of the reforms are not due to come into force until 2014. This gives us plenty of time to work out the precise effects as implementation gradually eases us into full compliance. Second, the major fault with the reform is that it does nothing to control the prices of drugs or the treatments we receive. Imagine the debate in the White House. Potentially, we are picking a fight with the insurance industry, the healthcare industry, and the pharmaceutical manufacturers. This is a triple whammy. So, the President and his advisors decided to narrow the field to the insurance industry, hoping the premium rates and the cost of drugs, devices and treatments would take care of themselves. If the ads are attacking this cowardly failure, they are right. Without control over the prices, premiums are almost bound to rise.

Now a few words of reassurance. There's nothing in the Act to force you to go through an official to get to a doctor. You will be able to choose your own doctor or insurance plan without anyone second-guessing you. There's also no right for illegal immigrants to buy cover. They stay outside the system altogether. This will leave the current insurance companies to sell the policies whether directly or through the new exchanges. There's no government takeover. Indeed, all the exchanges do is promote competition between the insurers. Premium rates should fall. This is supposed to be what capitalism is all about.

If insurers do increase their premiums, most states have the power to review the increases and decide whether they are justified. Hopefully, more states will use this power to protect you. The Justice Department has just filed suit against Blue Cross and Blue Shield for abusing its dominant position in Michigan to force up its competitors' costs. Finally, there's no threat to Medicare benefits. In fact, the benefits will either stay as they are or increase slowly. The only people who will see a change are the members of the Medicare Advantage plans who will lose some of their unjustified subsidies.

It's true that this is a big change to the health insurance market. But we already see advantages. Insurers can no longer reject children on the basis of a pre-existing condition, young adults can stay on their parents policies until 26, insurers cannot cancel your policy if you fall sick, and so on. Health insurance has always been complicated and it remains so now. But there's no need to panic. No matter what the attack ads say, the changes should end up favoring you.