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Highlights
- Verizon gears up for its third legacy plan price increase in a year.
- Price jumps range from $3 to $5 per month starting January 23, 2024.
- The Economic Adjustment Charge will also rise from $0.99 to $3.97 monthly for each smartphone and data device.
- Subscribers can expect to receive notifications about these changes starting January 23, 2023, for their upcoming bills.
Verizon is once again on the cusp of boosting prices for its legacy wireless plans, as reported by The Mobile Report. This would mark the third hike within a twelve-month span.
Monthly rates for a mix of legacy plans are expected to increase by $3 to $5 beginning in late January 2024.
This round of rate increases follows two prior adjustments within the same year, with certain plans experiencing a $2 rise in February 2023 and a subsequent $3 to $5 jump in July.
In addition to upping the base plan costs, Verizon intends to raise the Economic Adjustment Charge.
This fee, introduced in 2022, will go from its current $0.99 to $3.97 per month for each smartphone and data device under a plan. However, tablet devices are expected to be exempt from this fee increase.
$5 monthly increase
- Business Unlimited Smartphone Plan
- Business Unlimited Essentials Plan
- Business Unlimited Plus Plan
$3 monthly increase
- New Verizon Plan
- Flexible Business Plan
- New Verizon Plan for Business
Subscribers affected by these adjustments should anticipate notifications from Verizon starting January 23, 2023, regarding the changes to be reflected in subsequent billing cycles.
My take
Verizon's trend of frequent price increases on its legacy plans signals a challenging time ahead for loyal customers clinging to older contracts.
While the push might be towards newer, more "economically structured" offerings, the essence of choice and fairness remains paramount.
Customers are not rewarded - and even penalized - for remaining loyal to the big three companies.
These ongoing adjustments emphasize the need for consumers to stay vigilant and informed about their service agreements. With each increase, the importance of reviewing your current plan and considering alternatives becomes ever more critical.
For those navigating the latest wave of telecom changes, MoneySavingPro.com remains your ally. My team and I offer up-to-date information, expert advice, and in-depth reviews to help empower you to make informed decisions that align with your needs and finances.
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