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On Tuesday, February 10, 2014, the Internal Revenue Service (IRS) published final regulations on the Affordable Care Act’s (ACA) large employer Pay or Play mandate, which requires large employers to provide health care benefits to full-time/FTE employees or risk paying substantial penalties. The mandate was originally set to apply this year but was delayed until 2015 by the IRS through transitional relief published in July 2013 (IRS Notice 2013-45). Now, with the release of the 227-page final regulations, we have been given more transitional relief for 2015 plan years, especially for employers with 50 to 99 full-time/FTE employees.