Is the iPhone 5[s] really only $200?

With my coverage plan (500 MB) I only need to pay $80 a month. This seems way too good to be true though.Am I not seeing hidden costs? Or is this really legit?

With a 2 year contract - yes it's $200.

iPhone 5S with a 2 year contract:
16 GB - $199 <---
32 GB - $299
64 GB - $399

Yes, with a 2 year contract price for new activation or renewal for the 16 gb of memory. However I would recommend a higher plan as on LTE you will easily burn though more data than 500 mb I a month. Maybe not, but I use about 1.6 gb in a month on average.

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