Verizon to take $970M charge from health care bill (AP) 3 hours ago
NEW YORK Verizon will record a $970 million non-cash charge in first quarter related to the recently passed health care bill.
The charge reflects the change of the tax treatment of Medicare subsidies, according to a regulatory filing from the New York-based telecommunications company Thursday.
Companies say the health care overhaul, which President Barack Obama signed last week, will make a subsidy that companies receive for retiree drug coverage taxable in 2011.