It's been at least a few months since Verizon changed its rate plans, and you know what that means. Yes, we are long past due for new Verizon plans. The carrier's latest prepaid plans offer several data tiers as usual, but now you get $5 discounts after three and nine months as a customer.
There are three tiers for Verizon's new prepaid plans. 5GB of data will cost you $40 per month, 15GB is $50, and "unlimited" is $65. The 5GB and 15GB plans include hotspot, but the unlimited plan requires a $5 add-on for 10GB of hotspot data. Verizon's chart below is a bit confusing when it comes to the discounts. Both the three and nine-month discounts are $5, but the three-month line also shows the autopay discount, which is another $5. So, for all intents and purposes, the plans start $5 less than the "full" price. Accounting for that and the time-based discounts, you can get $15 off the base price if you remain with Verizon for nine months or more.
Prepaid subscribers are traditionally more transient customers. They don't have a device to pay off or a grandfathered postpaid plan to cling to, so they tend to come and go. By rewarding prepaid customers for time served, Verizon gives them some incentive to stick around long-term. Keep in mind, these plans have video resolution capped at 480p, and you'll drop down to 2G speeds after using your monthly data allotment. These are pretty typical caveats in 2020.