After a lengthy (90-minute) phone call to Verizon I was able to clear up my problem:
Long story short: A year ago I contacted Verizon to downgrade my service to a cheaper plan. Coincidently, they were in the process of upgrading their basic plans so their new basic plan (1.5 / 384) was going to be about the same as my old premium account.
Well, somehow there was a mix-up. I do not know if it was due to my call, the conversion they were going through, or something else entirely, but apparently when they made changes to my service they set me up in billing as a 1.5 / 384 customer, but technically they had me