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If you are under the age of 50, then you probably haven't thought about the benefits of long term care insurance, let alone doing some research for insura

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

nce quotes. Most of us insure our familiar tangibles, like our homes or our vehicles! And if you work, your health insurance is more than likely provided

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

y your employer...that topic for another article.

Research has shown that the vast majority of people in the world will live longer. This is due to medic

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

l advances as well as a rise in health consciousness. Baby boomers, especially, will make up the vast majority of seniors in the near future. And as baby

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

boomers live longer, they may eventually need medical, home or nursing care.

Most western cultures do not discuss how to care for aging family members. S

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

me people have their health care already specified and taken care of. But families who are not financially able usually just let the "chips fall where the

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

may." Whether care is provided for or not, caring for the sick or elderly is not a "hot topic" at most dinner tables.

It should be.

If you, or anyone h

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

as ever observed or been in a position where you were responsible for the care of an older or chronically ill family member, then you realize that plannin

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

for long term care is a beneficial aspect of heath care.

An aging parent or a loved one who develops a degenerative condition, a chronic illness (heart

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ttack or stroke), or is in a major accident, may require assistance after hospital care is over from either a nursing home or a skilled health care profes

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ional.

What is long term care insurance?

Long term care insurance provides the recipient with assistance for daily l

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

iving activities . Bathing, dressing, and eating are "living activities" that would be performed by a nursing home or skilled health care professional. Th

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

se services would either take place in the home environment, or at a nursing home.

Using Health Insurance Benefits

You can use health i

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

surance benefits to pay for hospital care, doctors visits and prescription drugs. Most policies don't cover the expenses for non-hospital, nursing or hom

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

e care. If your aging, chronically ill or injured family member needs either of these for an extended period of time, the out of pocket costs can add up t

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

thousands of dollars!

Some considerations

If long term health care is not for you, here are some points to know:

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

Medicare benefits are not provided until after a person reaches 65 years of age.

Medicare benefits do not cover all expenses.

Medicaid

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

benefits are not provided until all other financial assets are exhausted.

Deciding whether or not to purchase long term care insurance takes r

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

search and planning. But if you are healthy enough and able to purchase one, this type of policy can provide a measure of independence for the policy hold

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

r. It may also free other family members from the financial burden and emotional strain that may come with providing care for an aging parent or loved one

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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