Verizon increases plan prices, but adds more data

Verizon announced a price hike of between $5 and $10 on its plans on Wednesday, but will reportedly be giving customers more data usage in return.

The company held a press conference to explain the changes in the “S” plan, the “M” plan, the “L” plan, the “XL” plan and the “XXL” plan.

Under Verizon's old plan, individuals paid $50 a month for 1 gigabyte of cellular data. Starting Thursday, the base plan will offer 2 gigabytes for $55. A family of four sharing 12 gigabytes previously paid $160; now, the same family will pay $170 for 16 gigabytes. Prices don't include the phone.

If your data needs fell somewhere between two offerings, you had to bump up to the higher plan. Now that each offering is getting more data, the lower plan might meet your needs. Let's say you need 2 gigabytes a month. Before, you had to pay $65 for 3 gigabytes and let 1 gigabyte go to waste. Now you can buy the 2 gigabyte plan for $55.

If you were already using up most of your 3 gigabytes, you can stick with the old plan for $65 rather than pay the increase. Any future changes will subject you to the new prices - unless, that is, you're on a plan introduced before last year, such as "More Everything." Those older plans will still let you change your data levels.

Read the full press release from Verizon here.

The Associated Press contributed to this report.

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