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Shortly after T-Mobile announced their new “Go5G” plans, Verizon responded by sharing they’d have an announcement to make on May 15th. Thanks to a tip, we now know that the announcement will likely be a new plan called “myPlan”, available in both “Unlimited Welcome” and “Unlimited Plus” variants. These two new options will fully replace all of the existing unlimited plans Verizon has, and customers with those plans will be grandfathered.

The news comes via a few images shared with us here at The Mobile Report, embedded below, as well as a few details from our sources. The plans are set to become available on May 18th.

According to the image, the new plan type is designed to become cheaper the more lines you have, just like T-Mobile’s plans.

The myPlan Unlimited Welcome plan is similar to T-Mobile’s “Essentials” plan, in that it’s the base level offering, whereas the myPlan Unlimited Plus plan is most similar to Verizon’s current “5G Get More” plan.

These two new plans offer a pick-your-own-perks system, where for $10 per month each, customers can pick and choose which perks from a list they want. Perks like the Disney+ bundle are no longer included in the plan, but a separate add-on.

Some perks have decent value, like the added 100GB of hotspot data. At $10/mo, that’s a savings of $35 according to Verizon. Certain perks are line-specific, like the hotspot, while others are shared across the entire account.

Not only are the new plans slightly cheaper than existing plans, but customers get an insane 500 GB of data per month at full speeds (advertised as “unlimited”). After that, customers get 5 Mbps speeds. That tops T-Mobile’s Go5G plan’s premium data allotment by 5x, though T-Mobile’s Go5G Plus plan has unlimited high-speed data.

Customers on existing plans with Verizon will retain their existing perks. If those customers change to the new plans, however, they will not be able to go back. As of May 18th, myPlan Unlimited Welcome and myPlan Unlimited Plus will be the only two unlimited plans Verizon offers.

Verizon is likely to announce these plans, along with some exclusive phone promotions, on May 15th. The new plans will then go live on the 18th.

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