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Overview | What’s Changing for 2024 | Which Plan Option Is Right for You? | Where to Find Decision Support | How to Enroll
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Overview

Open Enrollment is here! Don’t miss your once-a-year opportunity to make changes to your current benefits coverage.

Open Enrollment (OE) is Monday, November 6 – Friday, November 17, 2023. During this time, you can log in to Workday to enroll in or change your benefits elections for 2024. The plan elections you make will be effective January 1 – December 31, 2024.

Open Enrollment 2024 Important Dates

Open Enrollment starts Monday, November 6 at 5:00 a.m. PT, and ends Friday, November 17 at 5:00 p.m. PT.

All changes must be submitted by 5:00 p.m. PT on Friday, November 17. Changes saved but not submitted by 5:00 p.m. PT will be canceled.

There are no exceptions to this deadline.

After November 17, 2023 at 5:00 p.m. PT, benefit changes are allowed only when you have a qualified life event (e.g., getting married).

Why you should participate in Open Enrollment

  • If you want to contribute to a Flexible Spending Account (FSA) for 2024, you must reenroll. Enrollment in a Healthcare, Limited Purpose, or Dependent Care FSA does not roll over from year to year.
  • You can also:
    • Make changes to your benefits elections for 2024.
    • Add or drop dependent coverage in 2024.
    • Add or change voluntary life and AD&D (employee-paid).
    • Change short-term disability election from imputed premium or taxable benefit.

What happens if you don’t participate in Open Enrollment

  • You’ll have the same benefits and cover the same dependents you currently cover.
  • You’ll have paycheck deductions for the premiums of your current health plan and coverage levels.
  • You won’t be able to contribute to a Healthcare, Limited Purpose, or Dependent Care Flexible Spending Account (FSA) in 2024.
  • You lose the opportunity to increase your optional life insurance without evidence of insurability (EOI) up to the free coverage limit.

What's Changing for 2024

Why we’re making these changes

Currently, we spend the bulk of our U.S. benefits budget on healthcare and nothing on retirement. We’re choosing to reallocate funds as we invest in a more diverse rewards package.

Sharing the cost for dependent medical, dental, and vision coverage is an industry standard and doesn’t negate the tremendous value of our plans. Unlike many of our competitors, we’re not asking employees to share the cost for covering spouses/domestic partners who have access to other medical coverage (e.g., through their jobs). Premiums for coverage under Nutanix plans are lower than our peer companies, and the benefits program overall is extremely competitive, even with the new dependent coverage premiums.

Rebalancing our portfolio allows us to provide a truly competitive benefits program that offers optimal value, choice, and innovative wellbeing options over the long term.
Two big changes for 2024

Offering a rich and comprehensive benefits program is a significant part of the commitment Nutanix makes to employees. We strive to ensure that our plans work together to support your total wellbeing, including your physical, emotional, and financial health.

For 2024, we’re making two big changes:

  • Enhancing our retirement plan. Starting January 1, 2024, Nutanix will match your contributions to the 401(k) Plan. We’ll match 50% of what you contribute, up to $2,000 each year.
  • Introducing paycheck deductions. Paycheck deductions, also known as premiums, are the amount you pay for health plan coverage. If you cover a spouse/domestic partner and/or children on your medical plan in 2024, you will pay a portion of their cost to be covered beginning in January. Nutanix will continue to cover 100% of the premium for employees, even when they cover dependents. All coverage, including employee coverage, on dental and vision plans will have a nominal paycheck deduction in 2024.

2024 changes

BENEFIT STARTING JANUARY 1, 2024
What you need to know Things to consider
New 401(k) Plan Matching Contributions

Nutanix will match your contributions to the 401(k) Plan. We’ll match 50% of what you contribute, up to $2,000 each year.

  • Matching contributions will be made on a per-paycheck basis, beginning with your first paycheck in January and will continue until you reach the $2,000 match maximum.
  • Match applies to regular pre-tax and after-tax Roth contributions; match doesn’t apply to after-tax in-plan conversions (aka Mega Backdoor rollover elections).
  • The contribution limit is also increasing to $30,000 for contributions made towards the after-tax in-plan conversion.
  • Calculate how much you can contribute in 2024 by using the 401(k) calculator at Fidelity.com.
  • Make sure you’re contributing enough to take advantage of the match and contribute up to the annual plan limits to get the most out of saving for the future.
  • The 401(k) plan 2024 contribution limits will be shared once released by the IRS.
New Premiums for Dependent Medical Coverage
  • You’ll pay a portion of the cost to cover your spouse/domestic partner and/or children through biweekly paycheck deductions. Nutanix pays the bulk of the total cost, also known as premiums.
  • Nutanix will continue to cover the employee’s cost. You’ll have no paycheck deductions for your own medical plan coverage.
  • You pay biweekly as pre-tax paycheck deductions. We’re not increasing copays or coinsurance, which are the costs you incur when you use the plan during the year.
  • Review your medical plan options, features, and costs on this page. If your spouse/domestic partner has access to medical coverage elsewhere, we encourage you to compare plans and costs.
  • Evaluate each plan to make sure you’re enrolled in the option that will best meet your needs in 2024.
  • If you opt out of coverage through Nutanix, you’ll receive an opt-out credit of $92.31 per biweekly paycheck.
  • As a reminder, if you cover a domestic partner and their children, the IRS requires that you pay “imputed income” on their medical, dental, and vision coverage. This means the portion of the monthly premium that Nutanix covers will be reported as additional wages (or imputed income). As a result, the value of the premiums will be included in your gross income for federal and state income tax purposes.
Employee Medical Coverage

Nutanix will continue to pay the full premium for employee medical coverage, no matter which medical plan you elect, even if you cover dependents.
  • If you want to maintain coverage on your current medical plan, it will automatically roll over to 2024.
  • Acknowledge that you’ve reviewed the new health plan costs through your Workday inbox by December 1.
New Premiums for Dental and Vision Coverage

You’ll pay between $1.00 and $5.00 per paycheck for coverage, depending on who you decide to cover. Nutanix pays the bulk of the premiums.
  • Decide if you want to make changes to your coverage.
  • If you want to maintain your current coverage, it will automatically roll over to 2024.

 

Benefit plan updates for 2024

BENEFIT STARTING JANUARY 1, 2024
What you need to know Things to consider
All UnitedHealthcare (UHC) plans (except HI)
New Kaia Health program

Kaia Health combines human care with an app that offers tailored programs to address all musculoskeletal issues, including back, neck, and joint pain.
  • Assess if Kaia is right for you and, after January 1, start your path to feeling better.
  • Get started in January by coming back to this site to get more information on how to register and get started.
UHC CDHP Plan – HSA, Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA)
Update Plan Name

The plan name has changed (formerly the High Deductible Health Plan (HDHP) with Health Savings Account (HSA)), but the plan remains the same.

Consider switching to the UHC CDHP – HSA plan for 2024, which has several unique features, including:

Update Increased Deductibles
  • We’re increasing in-network deductibles to align with the required IRS minimums of $1,600 per individual and $3,200 per family.
  • Out-of-network deductibles will be $3,200 per individual and $6,400 per family.

Preventive care, such as an annual checkup, is not subject to the deductible and is always covered at 100%.
Health Savings Account (HSA) (Available only on the UHC CDHP Plan – HSA)
Update Increased Employer Contribution

Nutanix is increasing its annual contribution to $800 per individual/$1,600 per family.

An HSA is a tax-advantaged savings account designed to help you save money for current and/or future healthcare expenses while also saving for retirement.
New One-time Contribution Incentive

If you’re currently or newly enrolled in the UHC CDHP – HSA on January 1, 2024, we’re offering a one-time contribution incentive of $250 per individual/$500 per family.

You contribute money to an HSA through pre-tax payroll deductions, which you can then spend on eligible healthcare expenses, or save and invest like your 401(k) Plan.
Update Increased Annual Contribution Maximums

Contribution maximums are increasing to $4,150 per individual/$8,300 per family (for contributions from Nutanix and your own).

See Is the UHC CDHP – HSA Right for You? for information that can help you decide if enrolling in an HSA, or increasing your contributions if you’re already enrolled, makes sense.
UHC POS Plan, Point of Service Plan (UHC Select Plus POS: CA only or UHC Choice Plus POS: All other states besides CA and HI)
New No Visit Limits for Autism Diagnosis Therapies

We’re removing the 60-visit limit for in-network physical, speech, and occupational therapies for individuals with an autism diagnosis. UHC CDHP – HSA also has no limits on these therapies.

If you’re covering a child with autism, the medical plan you choose can make a difference. (Scroll down to read Questions to consider when making benefit decisions.)
Dental Plan
New Preventive Dental Services Enhancements

We’ll continue to offer dental benefits through Delta Dental.

Up to two preventive visits per calendar year (i.e., exams, cleanings, and sealants) will be excluded from the $2,000-per-person annual maximums.

Delta Dental still has the strongest network where we have employees and has the lowest cost compared to other vendor options, which means you can stretch your maximum benefit further.
Voluntary Life Insurance
Approval Without EOI

If you currently have voluntary life insurance, you can increase your current coverage in increments of $10,000, to a total increase of $50,000. Increases above that amount, or above $500,000, will require Evidence of Insurability (EOI).

Review your coverage and decide if additional coverage is right for you. If you’re not currently enrolled, any amount of coverage you elect will require EOI.
Concern (Employee Assistance Plan (EAP))
Update Increased EAP Visits

Nutanix cares very much about our employees’ emotional, psychological, and social wellbeing and is increasing the number of visits available through our EAP from 6 to 10 visits per issue per year.

Take advantage of the EAP, whether you need immediate help, ongoing help, or occasional support.
Flexible Spending Accounts (FSAs)
Update Increased Annual Contribution Maximums

We’re increasing FSA annual contribution maximums to:

  • Healthcare FSA: $3,050
  • Limited Purpose FSA: $3,050
  • Dependent Care FSA remains the same: $5,000 per household

Enroll or re-enroll during Open Enrollment. Enrollment in these accounts does not automatically roll over each year.

Remember! Make sure to estimate your annual election carefully. All FSAs are “use it or lose it” accounts, which means you forfeit any money left over at the end of the year.

Which Plan Option Is Right for You?

In 2024 Nutanix will continue to offer the current plan options. Each delivers comprehensive coverage, flexibility, and choice, no matter whom you cover.

Comparing Plans 
Plan Overviews

UHC CDHP – HSA

UHC CDHP – HSA is the new name for the UHC HDHP with HSA. Only the name has changed; the plan’s features are the same. The UHC Consumer Driven Health Plan offers rich medical coverage combined with an HSA, a personal tax-advantaged health savings account that allows you to budget for healthcare expenses like deductibles while also helping you save for the future.

Features and Benefits

  • Preventive services are always fully covered—you pay nothing.
  • Coverage is available for both in- and out-of-network services. If you use out-of-network services, after the deductible, you’ll pay less for these services than with the UHC POS Plan.
  • Once you meet your deductible, the plan begins to pay for your benefits. You’ll share the costs of services by paying coinsurance up to an annual maximum. When you reach the annual maximum, the plan will pay 100%.
  • Your HSA is administered by HealthEquity. You make contributions to the HSA through payroll deductions up to an annual maximum set by the IRS. If you’re 55 or older in 2024, you can also make catch-up contributions.
  • Nutanix contributes to your HSA as well, which helps it grow faster. These combined contributions accumulate over time and earn interest. Once your balance reaches $1,000, you can invest the funds similar to how you invest your 401(k) plan.
  • The funds in your HSA are yours to keep. They roll over from year to year. The HSA is portable, so you can take it with you if you leave Nutanix.
  • If you are enrolled in the UHC CDHP – HSA, you can also enroll in a Limited Purpose FSA, which allows you to pay for eligible dental and vision expenses with pre-tax money. Remember, an FSA is a use-it-or-lose-it account and does not roll over each year, whereas the funds in an HSA are yours to keep.

UHC POS Plan

The UHC Point-of-Service (POS) Plan offers eligible in-network services covered at 100% with no deductible. You can see out-of-network providers if you don’t mind paying a deductible and coinsurance.

Features and Benefits

  • Preventive services are always fully covered—you pay nothing.
  • When you use out-of-network services, the deductible and coinsurance are higher on this plan than on the UHC CDHP – HSA.
  • With the UHC POS Plan, you cannot contribute to an HSA. Consider pairing the UHC POS Plan with a Healthcare FSA to help cover any out-of-pocket expenses.
  • You contribute to a Healthcare FSA through pre-tax payroll deductions, and you can use these funds to pay for qualified medical, dental, or vision expenses for you and your eligible dependents.
  • Unlike the HSA, you must enroll every year, even if you currently participate, and these funds do not roll over. They are subject to the use-it-or-lose-it rule, which means it’s a good idea to estimate your annual election carefully.

Kaiser Permanente HMO

Kaiser Permanente Health Maintenance Organization (HMO) is available only to full-time employees in California. This plan provides coverage only when you receive care from in-network providers. There is no out-of-network coverage.

Features and Benefits

  • Preventive services are always fully covered—you pay nothing.
  • You don’t have an annual deductible, and most office visits are covered after a $20 copay.
  • You also have a company-funded Health Reimbursement Account (HRA) to cover your copays and other eligible out-of-pocket expenses. The account is funded equal to your annual out-of-pocket maximum. The HRA account is owned by Nutanix and does not roll over each year.
2024 Medical, Dental, and Vision Plan Summaries

Medical Plans

Dental Plan

Vision Plan

2024 Health Plan Premiums
2024 Summaries of Benefits and Coverage (SBC)

These documents show how you may share the costs for covered healthcare services under each medical plan (for example, if you use an out-of-network provider).

Medical plans for employees based in California:

Medical plans for employees outside of CA and HI:

Medical plans for employees based in Hawaii:

Questions to consider when making benefits decisions

Your Physical Wellbeing

Do you want health coverage for yourself and/or your dependents in 2024?

If you do, compare each plan’s costs and unique features. If you have a spouse who has medical coverage elsewhere, you can also compare those plan costs.

Are you interested in flexibility in choice of doctors and an opportunity to save for the future?

If you are, the UHC CDHP – HSA might be a good choice. In-network preventive care is covered at 100%. In addition, you and Nutanix both contribute to your HSA, which you can use to cover your deductible. Alternatively, you can let the money in your HSA grow and use it for future expenses—even into retirement.

Are you covering a dependent with special needs, such as an autism diagnosis?

If you’re currently in the UHC POS Plan, you won’t have limits on occupational therapy, physical therapy, and speech visits. However, if your providers are out-of-network, the UHC CDHP – HSA may be a better fit because you’ll pay less for the deductible and coinsurance. You can also contribute to an HSA which will lower your taxable income and help pay for other healthcare expenses.

Would you prefer to pay higher set costs through biweekly paycheck deductions and pay nothing when getting care?

The UHC POS Plan might be a good choice.

Would you prefer to pay less in paycheck deductions and pay when you access services (e.g., see a provider, fill a prescription, or get lab tests)?

The UHC CDHP – HSA might be a good choice.

You’ve always had Kaiser coverage but are considering changing plans for 2024. What should you think about?

When you move from a Kaiser plan, you will need to find new providers in the UHC network. Your choices are much greater than with the Kaiser plan, but this is a change. You may want to reach out to MyAdvocate at 833-968-1775 to discuss the pros and cons of this type of change.

Your Financial Wellbeing

Are you contributing enough to your 401(k) to earn matching contributions from Nutanix?

In 2024 Nutanix will match 50% of what you contribute, up to $2,000 each year—it’s like having free money deposited right into your account. These contributions vest immediately, which means as soon as they’re available, they’re yours to keep.

Are you enrolled in a tax-advantaged plan like an HSA or an FSA?

Tax-advantaged savings plans lower your taxable income, so you’ll have more cash to use toward qualified expenses. While these plans have different rules, they can be used to cover out-of-pocket expenses. An HSA can also help you save for retirement. See How an HSA Can Grow Over Time.

Your Emotional Wellbeing

Have you taken advantage of our Employee Assistance Program (EAP)?

Our EAP, provided by Concern, offers you and your family in-person or virtual counseling sessions. In 2024 you get up to 10 visits per issue per year. This support is always 100% confidential and is provided at no cost to you. You’re also able to continue your care beyond 10 visits through your health plan. 

Where to Find Decision Support

 

Looking Ahead

We will continue to invest in your overall wellbeing and offer a variety of resources to help you engage in and achieve your personal goals. In February, you’ll hear more about a new wellbeing program with Virgin Pulse that features a personalized approach to developing healthy goals for physical activity, nutrition, sleep, financial wellness, relationships, and more.

How to Enroll

  • Make your elections starting at 5:00 a.m. PT on Monday, November 6, 2023.
    Log in to Workday.
    • From your Workday inbox (upper right corner), click on Open Enrollment Change: “Your Name” 1/1/2024.
    • Review and make changes to your benefits.
    • Check your beneficiaries to ensure that their information is current.
    • Click Submit to complete your benefits elections.
  • Print or save the PDF copy of your 2024 Benefits Statement.
  • If you don’t make changes to your coverage by Friday, November 17 at 5:00 p.m. PT:
    • You’ll have the same benefits and cover the same dependents you currently cover.
    • You’ll have paycheck deductions for the premiums of your current health plans and coverage levels.
    • You will not be able to contribute to a Healthcare, Limited Purpose, or Dependent Care Flexible Spending Account (FSA) in 2024. Enrollment in these accounts does not automatically roll over each year, so you must reenroll for 2024.

Remember: Submit your 2024 elections by 5:00 p.m. PT on Friday, November 17. Changes saved but not submitted by 5:00 p.m. PT will be canceled. There are no exceptions to this deadline.

Questions? Please open a Ticket on the People Portal, or access X-Bot in Slack.