Q

Qualified Annuity. Products whose premiums or deposits can be made with pretax dollars. In segmenting the qualified market, the specific section of the Internal Revenue Code is used. Typical sections include 401, 403, 408, 457 and 501. Section 401 covers group pension plans, including defined benefit plans and defined contribution plans (401(k)). Individual retirement accounts, simplified employee pension plans (SEPPs), TSAs and deferred compensation are covered under the other sections.

Quality Assurance (QA). Activities and programs intended to assure the quality of care in a defined medical setting. Such programs include peer or utilization review components to identify and remedy deficiencies in quality. The program must have a mechanism for assessing its effectiveness and may measure care against pre-established standards.

Quota Share Reinsurance. A form of treaty or facultative reinsurance in which the insurer cedes and the reinsurer assumes an agreed-upon percentage of risks. Also known as proportional reinsurance.