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Just wondering if I have to do anything if I have been using Outlook to access my verizon.net email all along. Will I be able to continue to use my verizon.net email address?
You do have to do the migration. Your email stops working until you complete that.
At most, if you changed your password, you will have to change that in outlook.
Not really true. My Outlook still had my original userID in it, from when I first becames a customer almost 15 years ago. I had to change that userID in outlook to be my email address (I was able to choose which of 3 I used most, when I transferred to AOL).
So I had to change both userID AND password in outlook.