Is Verizon still offering contract buyout?

Yes they are, up to $650.

Disclaimer: You get whatever the trade in value on your current phone is on a Verizon gift card at point of sale (use it to pay your bill, lower your monthly payments on phones, buy stuff, whatever).

Whatever the difference is between that amount and what you owe your previous carrier, you submit a final bill and you get that amount on a visa gift card 6 weeks later or so.