The bureaucracy that has come with the Affordable Healthcare Act has sent a lot of entrepreneurs scrambling to adapt. Cambridge Consulting Group is growing by running to these businesses with an answer.
The Troy-based company is launching its own healthcare exchange,
Cambridge Exchange Solutions, that offers a defined contribution model. It enables the user to set an overall budget for benefits and employees.
"It creates a nice solution for a lot of groups that were thinking of getting out of offered benefits plans," says Cam Kennedy, partner & CFO of
Cambridge Consulting Group.
The 29-year-old business offers insurance and financial consulting services, ranging from employee benefits to risk management to wealth strategies. It started to move toward offering the exchange as part of its services when it saw the market shift after the implementation of the Affordable Care Act.
Cambridge Consulting Group has hired 10 people over the last year, mainly analysts and consultants. It now has a staff of 60 employees and five interns. It also has three open positions for analysts and a client services representative.
Source: Cam Kennedy, partner & CFO of Cambridge Consulting Group
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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