Verizon hikes prices, though new options could save money

NEW YORK -- Verizon is hiking prices on its cell phone plans, though the new rates come with changes that might save you money.

If you prefer your existing plans and prices, you can keep them by doing nothing.

But you have to switch if you want new benefits such as carrying over unused data from the previous month and better options when traveling in Canada and Mexico.

If you switch, Verizon's prices are going up by $5 to $10 a month, but you'll get more data. It's possible that if your data needs fell somewhere between two offerings under the existing plans, you had to bump up to the higher level. Now that each offering is getting more data, the lower, cheaper level might meet your needs.

The new rates start Thursday.