The new structure has you paying $20 for each phone, $10 for each tablet and hotspot, and $5 for every smartwatch on your plan as well as one of Verizon's four data buckets -- 1GB for $30, 3GB for $45, 6GB for $60 and 12GB for $80. Any data usage over your bucket limit will cost $15 per gigabyte, though you can share the contents of your data bucket amongst 10 devices. The company is also doing away with offering discounted phones with a two-year service agreement, à la T-Mobile. Instead, customers are expected to either pay for the new device up front or have that cost amortized over a set period and tacked on to the monthly bill, which was formerly known as Verizon Edge.

[Image Credit: Invision for Verizon Wireless]