Lessons Learned from Years with
Things to Know About David Goldfarb and Digital Insurance
David Goldfarb is the president of the DSG Benefits Group and has been chosen to be one of the finalists from the country for the Benefits Selling magazine’s Broker of the Year for 2012. Goldfarb is actually a strong advocate of such consumer-driven health plans as well as he encourages his clients to combine a heavy emphasis in the consumerism as well as wellness with those benefits programs. Also, he is a proponent in having health savings accounts being the main vehicle in the health plans.
He thinks that having that skin in the game can stimulate change and also a real sense of that consumerism as well as this yields short-term but also long-term costs savings and various tax benefits for the employee and employer. HSAs, according Goldfarb, are the very effective agents in altering the traditional employee mentality when it comes to decision making in health care. He said that such traditional PPO or those HMO health plans aren’t sustainable and about eight to 12 percent annual compound rate increase can be hard, if not possible, for an employer to have more than 10-year time period. Also, Goldfarb thinks that change is quite important and also such consumer-driven health plans are among the solutions to such present healthcare crisis.
In addition, his firm is one corporate patron for various local arts as well as those non-profit organizations like the Dallas Opera, Dallas Children’s Theater and others.
Moreover, he founded the DSG Benefits Group as the leading independent employee benefits brokerage as well as consulting firm which serves various clients in all industries across the country. However, the employee benefits-only company, Digital Insurance, acquired the DSG Benefits Group which is in Dallas. Such acquisition actually marked the debut of the company in the Texas market. Now, the Dallas firm is operating under the banner of the DBA which is a division of the Digital Insurance. Moreover, David Goldfarb and his staff joined forces along with the DBA in providing those enhanced offerings to the customers.
According to Goldfarb, the Digital Insurance has such resources in order to help the DSG give the services that the clients need. Through the investment in the technology, this allows them to provide solutions which greatly improve the efficiencies as well as the way that they are doing the business.
Though there are several large as well as midsize employers that rejoiced with the Affordable Care Act, there has also been another provision of the law which could wreak more havoc for those small employers when they are going to renew their coverage. That shift in the community rating requires the health insurance provider to provide coverage in a particular region irrespective of personal medical history. For Goldfarb, he predicts a rate shock for over seventy percent of the employers in Texas. The rate may increase to 30 percent and in some 100 percent.
The DBA is recommending that a lot of the clients re renewing early in order to get themselves another year at a much lower rate. Such typical 40-employee business or that nonprofit is already paying 20,000 to 25,000 dollars each month in health insurance premiums.