As you plan to leave Nutanix, be sure to review the following information to help ensure a smooth transition to the next stage of your personal and professional journey.
Your coverage will end on the last day of the month you are employed at Nutanix. In most cases, you have the option to continue your health coverage through COBRA. You will pay the full premium cost of these plans, plus an administrative fee, without any subsidy from Nutanix.
Review the COBRA Rights and Rules Booklet and 2022 COBRA rates to learn more.
You own funds in your HSA, and they are yours when you leave.
If you participate in a FSA or Limited Purpose FSA, you may continue participation through COBRA. The continuation will allow you to access any remaining funds in your FSA through the last day of the month you are employed at Nutanix. If you do not elect to continue your FSA through COBRA, you will forfeit any unused funds that you are unable to claim. Expenses must be incurred prior to the last day of the month you are employed at Nutanix in order to be eligible for reimbursement.
If you participate in the CBP, please note the following:
If you are enrolled in the Kaiser HMO plan, you also have a company-funded HRA. As long as you elect to continue to enroll in the Kaiser HMO plan through COBRA, you may also elect to enroll in the Kaiser HRA through COBRA. The continuation will allow you to access any remaining funds in your Kaiser HRA through the last day of the month you are employed at Nutanix. If you do not elect to continue the Kaiser HRA through COBRA, you will forfeit any unused funds that you are unable to claim.
This coverage is portable, which means that you may continue coverage as long as you make your payments directly to Prudential. Please review the “Notice of Conversion and/or Portability Rights” form provided as part of the check-out process for more information. You may also contact Prudential directly if you’d like additional information.
In addition to the above options, if you participate in the Nutanix 401(k) Plan, you can roll over your vested account balance into another qualified plan through a new employer or into an Individual Retirement Account (IRA). If you have a balance of $1,000 or less, 30 days after being notified, Fidelity will distribute the balance to you. If the balance is between $1,000.01 and $5,000 the funds may be rolled over into a Fidelity IRA. For account balances over $5,000, you have the option of leaving your account balance in the plan. Contact Fidelity to learn more.
If you have an outstanding 401(k) loan, the plan requires that you repay the balance upon termination. Contact Fidelity Participant Services at 1-800-835-5097 to review your options, verify your exact payoff amount, and make payment arrangements. Your loan will be considered in default, and the unpaid balance will be characterized as a taxable distribution if no payment arrangements are made.
Pursuant to the terms of the applicable stock plan, vesting of your Stock Options (as defined in either the Nutanix, Inc. 2010 Stock Plan or Nutanix, Inc. 2016 Equity Incentive Plan), if you have any, will cease on your Separation Date. In accordance with the terms of the applicable stock plan and the agreements governing such Stock Options, you will have three months from your Separation Date to exercise any Stock Options that are vested and exercisable as of your Separation Date. If you do not exercise your vested and exercisable Stock Options on or before such date, all Stock Options are forfeited in accordance with the applicable plan. Any unvested Stock Options will be canceled on your Separation Date. Please contact Nutanix Stock Admin at stocks@nutanix.com for more information.
Under the terms of the agreements governing your Restricted Stock Units (“RSUs”), your RSUs will remain unvested as of the date of your Separation Date, in accordance with the terms of your RSU Agreement. The RSUs and right to acquire any shares subject to the RSUs shall be terminated in their entirety on your Separation Date. Please contact Nutanix Stock Admin at stocks@nutanix.com for more information.
If you participated in Nutanix’s Employee Stock Purchase Plan, your final paycheck includes the appropriate funds you contributed to that Plan for the current purchase period. You may also access your account on the E*TRADE website or contact them by phone at 1-800-838-0908 in the U.S.
If you are eligible for Medicare, here’s some information to help you understand the benefits available to you and when to enroll.
Your Medicare benefits are divided into three parts:
In addition to inpatient hospital services, Part A covers care in a skilled nursing facility (SNF) or hospice. Note that it does not cover outpatient Emergency Room visits. You're eligible to sign up for Part A during the seven-month Initial Enrollment Period (IEP), which begins three months before you turn 65 and continues until the last day of the third month after your 65th birthday. It is essential that you sign up during the IEP or you may have to pay a late enrollment penalty. For the majority of people who sign up on time, Part A is premium free.
There are specific timing requirements involved in signing up for Medicare Part B. If you delay past these specific enrollment timelines, you will pay a higher monthly premium. You can sign up for Part B within your first eligible IEP without paying higher monthly premiums. You also will have the opportunity to enroll in Part B during the eight-month Special Enrollment Period (SEP) after your Nutanix employee health benefits end without paying a late penalty.
The Medicare Supplement medical plan offered to you provides coverage that can take the place of Medicare Part D. Keep in mind: If you don't enroll in Part D during the IEP or within exactly 63 days after your employer-provided drug benefits end, you will have to pay a penalty, and drug benefits may be delayed, causing you to have to pay retail cost for expensive prescriptions.
Visit www.medicare.gov for more information.
Keep in mind, your personal Carenet—MyAdvocate can walk you through your Medicare choices to help you make the best decision. For assistance, call MyAdvocate at 1-833-968-1775 or go to myadvocateservices.com.