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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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 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).
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.
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:
BENEFIT | STARTING JANUARY 1, 2024 | |
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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.
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New Premiums for Dependent Medical Coverage |
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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. |
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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. |
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BENEFIT | STARTING JANUARY 1, 2024 | |
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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. |
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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:
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Update Increased Deductibles |
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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:
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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. |
In 2024 Nutanix will continue to offer the current plan options. Each delivers comprehensive coverage, flexibility, and choice, no matter whom you cover.
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
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
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
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:
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.
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.
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.
The UHC POS Plan might be a good choice.
The UHC CDHP – HSA might be a good choice.
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.
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.
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.
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.
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.
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.