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Top Adding - Social Security - Safety Net No More?
There have been widespread discussions and debates about the privatization of the Social Security Administration. This has been ongoing at least since the 1980's even before President G
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
eorge W. Bush's administration. Truly, much is at stake, primarily for beneficiaries of social security, regarding this issue.
The Social Security Act is part of the new deal pledge of
The Social Security Act is part of the new deal pledge of
; 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
President Franklin Roosevelt to the American people upon his inauguration. Now, nearly 70 years and many amendments later since its first implementation, it still works for most, speci
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
fically the elderly and other citizens of various age brackets who are disabled and unemployed.
Almost all workers in the United States pay Social Security taxes which entitles them to
Almost all workers in the United States pay Social Security taxes which entitles them to
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
collect benefits. As such, almost 50 million Americans avail of monetary benefits in the form of checks from the Social Security system. Nearly two-thirds of those retired from work de
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
end on their Social Security retirement benefits to compose half of their incomes. Still, for every five persons, one of them depends entirely on their Social Security benefits as their
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
only income.
Social Security has been looked upon by the people as their protection against forces they cannot control whether it is economic upheavals, inflation, investment markets
Social Security has been looked upon by the people as their protection against forces they cannot control whether it is economic upheavals, inflation, investment markets
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
fluctuation, disability or premature death. It is considered as a safety net by most even during the best of times and especially in the advent of worse situations in their social stand
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ing.
Since the program’s initiation, the benefits workers get depended on their earnings during the course of their careers. Now, with the privatization issue, President Bush aims to c
Since the program’s initiation, the benefits workers get depended on their earnings during the course of their careers. Now, with the privatization issue, President Bush aims to c
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
hange this system so that the amount each retiring worker need to collect from Social Security depend on the size of investments in his or her own personal account, instead.
Last 2002,
Last 2002,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the President’s Commission to Strengthen Social Security have already outlined three proposals that goes along this line. Analysis of the proposals turned out that there is federal borr
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
owing, tax increases and benefit cuts involved in order to pay for creation of new personal accounts while maintaining the provision of benefits to current beneficiaries. The benefit cu
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
ts may amount to $3 trillion over the coming decades.
As the arguments grow, it is becoming quite apparent that even if President George W. Bush is confident that creating private acco
As the arguments grow, it is becoming quite apparent that even if President George W. Bush is confident that creating private acco
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
unts for Social Security beneficiaries will have positive outcome, its adverse effects cannot be dismissed.
According to Pesident Bush, these changes are necessary to salvage the Socia
According to Pesident Bush, these changes are necessary to salvage the Socia
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
l Security from a financing shortfall which is being projected by its trustees. According to them, the Social Security may only be able to pay benefits until 2042. After this year thoug
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
, only about 70% of those currently promised benefits may be able to receive such.
Those against the proposed privatization have expressed doubts that creating private accounts would i
Those against the proposed privatization have expressed doubts that creating private accounts would i
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
mprove the Social Security’s problem. According to them, it may dampen the country’s economic growth. They also fear that the present insurance to safeguard workers and their families f
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rom disability would be threatened. Retirees will also be unprotected from inflation. The women, young people (next generation of beneficiaries), African Americans and Latin Americans a
.
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
re vulnerable and stand to lose a lot.
As the arguments rage on, it is better to keep up with the news about this vital issue. The main point is that Social Security is a safety net fo
As the arguments rage on, it is better to keep up with the news about this vital issue. The main point is that Social Security is a safety net fo
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
r most of the United States residents. Whatever change or amendments on its policies and implementation may be, the main purpose of its creation almost 70 years ago must still be intact
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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