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Advice Pool - Florida Health Insurance Presents - What Is A Deductible And When Does It Apply?
In an insurance policy, the deductible or excess is the portion of any claim that
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
is not covered by the insurance provider. It is normally quoted as a fixed amount
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
and is a part of most policies covering losses to the policyholder. The deductible
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
must be "met", that is, paid by the insured, before the benefits of the policy ca
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
n apply.
In a typical automobile insurance policy, a deductible will apply to cla
In a typical automobile insurance policy, a deductible will apply to cla
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ims arising from health related sickness. Third-party liability coverage generally
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
has no deductible, since the third party will likely attempt to recover any loss,
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
however small, for which the policyholder is liable.
Most health insurance polic
Most health insurance polic
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ies and some travel insurance policies have deductibles as well. Typically, a gene
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
ral rule is: the higher the deductible, the lower the premium, and vice versa. The
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
type of health insurance deductibles can also vary, as individual amounts and fam
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ily amounts. Major medical insurance policies are known for often having a deducti
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ble, which does not cover the cost of routine visits (e.g., to a doctor's office o
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
r specialist).
A deductible is the amount each employee must pay each year before
A deductible is the amount each employee must pay each year before
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
Provider begins to pay for services. Employees can check the member ID card for 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
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
he deductible amount. There is a higher deductible for using nonpreferred provider
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
s. The deductible is sometimes waived for the prescription drug plan and, to some
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
extent, for preventive health services.
For more information on this topic or for
For more information on this topic or for
.
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
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
other Florida
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
Health Insurance information please visit us online or call toll free
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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