What you need to know
- Verizon is raising prices for both business and customer accounts beginning in June.
- The cost of its plans will remain the same with a new “economic adjustment charge” being added to customers’ bills.
- Each voice line will be charged this additional amount so family plans will see a larger increase in cost.
If you’re a Verizon Wireless customer, your bill is about to increase this June. Verizon is set to start adding an “economic adjustment charge” to customers’ bills with a set amount for each voice line on the account. As reported by Bloomberg, this new charge will apply to both consumer and business accounts, though some business plans will have to pay a bit more.
Verizon is adding a charge of $1.35 per voice line to its customers’ Verizon Wireless bills sent out in June. This charge applies to each voice line on the account so if you’ve got more than one line with voice service, you’ll be charged for each one. Business data plans will see a larger increase of $2.20 and basic plans will increase by $0.98.
This is the first time in two years that the carrier has increased and is linked to increases in inflation. Some customers on grandfathered Verizon plans have seen increases as late as 2021 according to 9to5 Mac. The publication also noted that AT&T would be increasing prices for some legacy customers as well.
Speaking to Bloomberg last week, the head of Verizon Business, Tami Erwin said:
“We’re all feeling the pressure and we’ve been in the process of deciding how much of that pressure we can share with our clients.”
Despite the increase in the monthly cost of its plans to consumers, Verizon is not updating the price of its plans to reflect this new charge and will continue to advertise plans at the same rate.
While Verizon still has some of the best cell phone plans when it comes to features and coverage, there are quite a few more prepaid phone plans available to those looking to save on wireless plans. This includes the Verizon-owned prepaid brand Visible which offers unlimited data at a lower priority with all fees and taxes included with the price. While postpaid Verizon customers will enjoy higher-priority data speeds, many people will be more than happy with the speeds on prepaid plans.
Android Central has reached out to Verizon for further confirmation of these changes but has not heard back yet at the time of publishing.
