I know the importance of staying connected while charging on the USB connection. I would be happy to help troubleshoot further. What exactly does the connection show? Have you tested multiple cords and USB ports? What is the model of your Ellipsis Jetpack?
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Using USB Tether will disable the WiFi radio on the Jetpack. USB Tether only works if your PC has the drivers necessary to talk to the Jetpack. You might be in a situation where both WiFi is disabled and your PC does not have the drivers.
Search Verizon for the drivers available for your Jetpack. If they have some for your OS then download and install them. If not then you are out of luck and will need to use normal WiFi on your Jetpack instead.