When I called-I called in the evening. It wasn't too long of a wait. I ended up changing the plan online. One thing, if you do change your plan--make it effective for the next billing cycle. Otherwise you will get prorated charges added onto your bill. Fortunately, when I switched plans my cycle was ending about a week out. So I didn't have to wait too long.
I also learned from the Verizon rep that the activation fee is waived if you add your device online yourself making sure you do it on a Friday night. I haven't done that yet, but made sure to take notes so when I do do this. The activation fee is $35-which is a 1-time fee.
Well, I just set my iPhone as a hotspot now and tethered it to my iPad at home. Worked like a charm! I am moving away from my Virgin Mobile hotspot I bought a few years ago. Great device, very reliable except for just recently. I also am a little disappointed as to how they change their rates on a monthly basis and is getting a little bit expensive now. So hopefully this new plan will be more effective for my needs.