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As an administrator of retirement plans, I noticed an oversight in your article, "Take charge of your 401(k)" [Jan. 11].
You suggested that a conduit IRA was a good place for a doctor who was changing jobs to park the funds from her old 401(k) while she decided whether to roll them over to the 401(k) plan of her new employer. That was good advice, but then you warned not to fatten the IRA with extra money in the meantime, or moving the assets to the new 401(k) would not be allowed.
This is no longer the case. Nowas long as your new employer allows you to make such a rollover contributionyou can roll over any IRA money into his 401(k) plan. This provision of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), became effective on January 1, 2002.
Editor's Note: According to the IRS, an employer may opt to set up a 401(k) plan that will not accept your previous 401(k) fund if you have subsequently added money to it. Therefore, unless you know for sure what your new employer will allow, it may be best to keep your IRA free of commingled funds.
The supplement to your Oct. 22 issue contained an article"Can an ASP save you money?"that we take exception to. The discussion of Dr. Nancy Resnick's experience completely misrepresents the facts as they relate to our company and our product. We would like to point out the following:
Nuesoft Technologies, Inc. is the provider of a comprehensive state-of-the-art Internet-based physician practice management system, not an outsourced billing service.
Second, we find it quite revealing that Dr. Resnick contacted Nuesoft again a few months after canceling her subscription and a month before the article was published to find out if she had the option to renew her subscription to our product!
Third, we feel that Nuesoft executive Brett Bennett's comments were taken out of context. In fact, he tried to point out the time-consuming and costly issues surrounding a traditional legacy system's implementation that a state-of-the-art, ASP-based system such as NueMD is capable of solving.
Nuesoft has been providing practice management solutions to physicians since 1993. Our revolutionary NueMD was the first purely Java-based, next-generation Internet product that delivers a quality practice management solution at a fraction of the cost of traditional solutions. We are convinced that in terms of quality, functionality, performance, and price, NueMD cannot be matched by any other product in the market today.
President & CEO
Nuesoft Technologies, Inc.
You mention that Dr. Tom Dooley was the first doctor to inspire you ["Memo from the Editor: Miles to go," Oct. 8]. I learned about Dr. Dooley by reading his books as you did. His dedication inspired me to go into medicine, and I keep his photo on my desk as a constant reminder to strive to be a physician of knowledge, skill, and compassion.
Katherine Stasiak Hankins, MD
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Liz O'Brien. Letters to the Editors. Medical Economics 2002;5:11.