* The proposal clarified that elective contributions, qualified matching contributions (QMACs
) and QNECs received in a trustee-to-trustee transfer (other than a direct rollover) from another plan remain subject to the Sec.
Amounts attributable to QNECs and QMACs
may be distributed from a 403(b) plan only to the extent that the hardship is a permitted distributable event for such nonelective savings.
The Budget Act amends the hardship withdrawal rules to permit plans to allow contributions to a profit-sharing or stock bonus plan under Code Section 402, QNECs, QMACs
, and earnings, to the category of contributions available for hardship withdrawals.
But making QMACs
or QNECs means raising the stakes.
In 1997, the company chose QMACS
, a Windows-based modular software ware product offered by Phoenix-based QCSI, a Microsoft Certified Solution Provider.
We submitted requests for proposals to six companies, and from this group we narrowed the field to two: QCSI's QMACS
claims payer system and a Unix-based claims system.
Its flagship product, QMACS
, enables health plans to reduce administrative costs by processing claims electronically and using the QMACS
mass adjudication engine.
Under the agreement, Synertech will host the QMACS
claims processing platform, adhering to strict performance standards attached to penalties and incentives.
In managed care systems competition, QCSI's multiyear winner claims handling system, QMACS
, will get challenges from CTA's Automated Clinical Practice Guidelines and Unlimited Innovations' Cerecons.
Managed Care: QCSI, Phoenix, AZ (www.qcsi.com), won for QMACS
, a multi-application system for healthcare payors, including management of complex benefit plans and provider contracts, referrals, utilization management, claims adjudication and payment, call tracking and financial reporting.
QCSI wanted to showcase its ability to scale up to 10 million users with its multi-tier QMACS
client-server software, having installed many systems for health plans up to 200,000 members.
Quality Care Solutions created QMACS
, a payer system providing a complete IS solution to managed care organizations.