Verizon says it will take $970 million charge

Verizon Communications joined the growing chorus of large companies announcing millions in additional expenses because of the new health care reform law. 

The nation's second-largest telecommunications company will take a $970 million hit, following the largest carrier AT&T, Deere & Co., Caterpillar Inc., Boeing and several other large companies in reporting they will incur additional expenses, according to news reports. 

Several of the companies are expected to testify April 21 on Capitol Hill to detail their costs.