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Q. Jeff, I want to ask your opinion regarding Health Savings Accounts. On April 1st, the company I work for is changing our current Blue Cross health insurance to Guardian Insurance set

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

up as a HRA. I am single and currently have a $500 deductible. Under the HRA, the deductible will be $2,000.

Currently, the premium is split 50/50 between employer and employee. I pay

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

Examples of combination products may in

$205.00 per month. Under the HRA it will still be split 50/50, but the employer is going to fund each employee's Personal Medical Fund up to $900. As I understand it, my responsibility

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

ill be $1,100 of deductible before any insurance coverage kicks in. We have not been given any rates for the HRA insurance, but I imagine it will be lower than the monthly $205.00.

I a

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

trying to decide if this is a "good" thing to change to or if I should obtain an individual policy of my own. I contacted my insurance agent and was quoted a price of $213.20 per month

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

Combination pro

for similar insurance ($500 deductible).

I assume a portion of the amounts I pay in to the "fund" would be tax deductible, but I am still not sure that a HRA is the right thing for me

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

to do.

A. A lot will depend on your health status and how much you use your insurance. If you’re healthy and don't take many medications, then the HRA could benefit you because the amo

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

nt the company contributes to your account is yours and can grow from year to year.

On the other hand, if there’s a good chance of using your coverage, then the HRA might be more expen

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

ive because the amount of deductible you’ll have to pay, although it sounds like the company is paying $900 toward your $1,100 deductible. Private insurance most likely will not cover a

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

y existing conditions and it’s very likely that you will see those premiums rise at a faster rate then those of the HRA/HAS.

The days of company paid health plans are quickly coming to

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

an end and employees will have to bear much more of the cost. This may help the overall situation in the long run because people may not seek medical care as often if they have to cover

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

Following aspects would a

a portion of the cost. Companies are being forced to explore these alternatives to remain competitive in today’s global environment.

Q. I was reading your estate planning article abou

dd to the challenges in developing combination products:

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

a power of attorney (POA). I thought your spouse automatically had POA. Do I need to state that I want my husband to have POA? Can you name a secondary POA? We travel a lot and if some

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

hing would happen to us both, I would want one of my children to have POA.

I have just moved to Florida from up north, is my will still legal here?

A. First, just because you are marr

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

ed does not mean that your spouse automatically serves as your POA. There are also two kinds of Powers of Attorney—one for assets and one for healthcare. A spouse CAN make medical decis

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

ons for you, but if you have a checking account or own property in your name only, there's nothing your spouse can do to touch it before or after you become incapacitated. Your spouse (

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

Professional from academic institutions, pharmaceutical industries, health care indust

or anyone else you desire) would need to be named as your Power of Attorney. And you can have multiple people mentioned who would serve in succession.

For instance, your husband can be

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

named as your primary attorney-in-fact, your child as secondary, etc. If your husband were unable or unwilling to serve as your attorney-in-fact when you became incapacitated, your chil

.

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

would then be able to.

Your Will should still be legal even though it was written prior to moving to FL. Florida does have certain homestead exemption laws that your previous state ma

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

Companies that provide selfless information through particip

not have had. So even though your existing will is valid, it may be worth having a FL attorney review it and your situation to make sure there aren't any changes that could benefit you

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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