Caller ID is a free service, included with all plans. Caller Name ID is a paid for service that gives a bit more info, if available.
Caller ID displays the caller's phone number (for all unblocked numbers) on your phone. It may also show the name of the person if it's already been stored in your phone's memory. Caller ID is included with all plans.
Other enhanced Caller ID services display the name, picture, city or state for incoming and / or outgoing calls: