From an email I received from Apple Wednesday morning:

We recently announced new, more affordable iCloud storage plans. As a thank you for being a current iCloud storage plan subscriber, we’ve increased your storage plan and you will be receiving a refund based on the reduced plan price.

[...]

Your plan has been upgraded from 15 GB of total storage at $20.00 a year to 20 GB at just $10.99 a year.

[...]

NOTE: This annually priced storage plan is only available to current iCloud storage plan subscribers. You may cancel or downgrade from your device at any time. If you choose to change to one of our new plans, you won’t be able to switch back to this annual plan.

Nice of Apple to refund current subscribers and automatically move them to the new plans. Nicer that they allow us to stay on the annual plans we're accustomed to instead of forcing us into month to month payments.

That said, seems like annual plans should be an option for everybody. Month to month charges are annoying, even small ones. And while I may still have my annual plan now, if I ever need more than 20GB of storage I will be forced into month to month payments as well. Which is probably exactly what they expect and want to happen.