Spending Accounts

Overview

Nutanix offers you the following tax-saving accounts, and we encourage you to take full advantage of their money-saving potential. You can enroll in these plans on the Workday website as a new hire, during Open Enrollment, or if you have a qualifying life event.

Health Savings Account (HSA) | Flexible Spending Accounts (FSAs) | Kaiser Health Reimbursement Account (HRA) | Commuter Benefits

Health Savings Account (HSA)

If you enroll in the UnitedHealthcare CDHP – HSA, you can contribute to a Health Savings Account (HSA) administered by HealthEquity.

An HSA is an account you own that allows you to build up savings to pay for eligible healthcare expenses, while allowing funds to roll over year after year. You can make pre-tax* contributions directly from your paycheck, up to IRS limits. Nutanix will also contribute to your HSA even if you don’t! You must actively set up your HSA account with HealthEquity to make your own contributions and receive the Nutanix contribution. You’ll receive a welcome packet from HealthEquity with instructions on how to set up your account within 14 days of enrolling in UHC CDHP – HSA medical coverage.

Triple tax advantage: The money you put into your HSA is made on a pre-tax basis. This means your contributions aren’t subject to federal taxes and your money isn’t taxed when you take it out for qualified expenses. Plus, any earnings on your savings grows federally tax-free.
You own the account: Your HSA belongs to you—you can keep it and the money in it, even if you change medical plans or leave Nutanix.
You control how you use it: You can use your HSA funds to cover qualified expenses, such as copays or deductibles, or you can choose to pay for your expenses out of your own pocket, so that you can save your HSA funds for later.
You can invest your savings: Once you have a minimum balance of $1,000 in your HSA, you have the option to invest your balance in a variety of investment options.
Save for medical expenses in the future: By building up your HSA year over year, you’ll be able to use the funds to pay for your healthcare expenses in the future, even after retirement. Once you reach retirement age, you can choose to use your HSA for any expense, subject to regular taxes.
Only available with the UnitedHealthcare CDHP – HSA: By law, you can contribute to an HSA only if you’re enrolled in a high deductible consumer driven health plan.

Tax-Advantaged Accounts Make a Difference

See how much contributing to an HSA could save you over the course of a year.

Coverage Level	Contribution Limit	Tax Savings¹
Single	$4,150	$770
Family	$8,300	$1,550
Age 55+	$1,000 catch-up	$200 extra

¹ Assumption based on maximum contribution election and 20% savings. This hypothetical illustration is for educational purposes only. Dollar amounts or savings will vary depending on income, state and city tax rules, and other factors. Please consult a tax, legal, or financial advisor about your own personal situation.

Put money in tax-free,* pay for healthcare tax-free,** and grow your money tax-free.

The money you put into your HSA is pre-tax on a federal basis, as well as pre-tax in most states.* Plus, your money isn’t taxed when you take it out for qualified expenses. Finally, any earnings on your savings grow federally tax-free.

Get company contributions.

Nutanix will contribute $800 if you have employee-only medical plan coverage, or $1,600 for any other coverage levels.***

Control how you use your HSA money.

You can use your HSA to pay for eligible medical, dental, and vision expenses now. Or, you can let your balance build and use the money in the future, even after retirement. You can also invest your balance after you reach $1,000 in your account.

You own the account.

Your HSA funds belong to you—always. (This includes the money that Nutanix adds to your account each year.) That means you can keep your HSA funds from year to year, even if you change medical plans or leave Nutanix.

*Exceptions include California and New Jersey, where you’ll pay state tax on HSA contributions, and New Hampshire and Tennessee, where state taxes apply to tax dividend and interest earnings after a certain dollar amount.
**Money in an HSA can be withdrawn tax-free as long as it's used to pay for qualified health-related expenses. If money is used for ineligible expenses, you'll pay ordinary income tax on the amount withdrawn, plus a 20% penalty tax if you withdraw the money before age 65.
***Contributions from Nutanix are prorated if you enroll in the plan midyear.

2024 contribution limits

The maximum amount you and Nutanix can contribute to your HSA is determined by annual limits that are set by the IRS. In 2024, the total contribution limits are:

Coverage Level	Nutanix Contribution*	2023 IRS Maximum	Maximum You Can Contribute**
Employee Only	$800	$4,150	$3,350
Employee + Spouse/Partner and/or Child(ren)	$1,600	$8,300	$6,700

*Contributions from Nutanix are prorated when you join the plan during the year.
**Catch-up contributions: You can contribute up to $1,000 more to your HSA if you're age 55 or older or if you'll be turning 55 this year.

Note: You can change your contribution at any time.

To learn more about the HSA, watch the video below or review the HSA Investment Guide

Most employees are eligible to enroll in the UnitedHealthcare CDHP – HSA. However, there are some situations that prevent you from being eligible. You’re not eligible to contribute to an HSA if you:

Can be claimed as a dependent on someone else’s tax return.
Are covered by another healthcare plan other than the UHC CDHP – HSA.
Are enrolled in Medicare.
Are enrolled in or covered by a healthcare FSA* or Health Reimbursement Account (HRA), including one through your spouse’s/domestic partner’s employer.
Are covered by veterans’ benefits and have used Veterans Affairs medical services within the past three months.

*If you enroll in an HSA, you can enroll in a Limited Purpose FSA for eligible dental and vision expenses.

Getting started

Once you enroll in the HSA and your eligibility is verified by HealthEquity, you'll receive your welcome letter and packet within 14 days. Your packet will contain instructions for you to set up your account. You must complete the setup within 90 days of your enrollment in the plan. Keep in mind, you can’t contribute to your account or get Nutanix’s contributions until you set up your account.

Nutanix will make a contribution to your HSA in January. (If you enroll during the year, Nutanix’s contribution is prorated based on your hire or event date.)

You'll see your employee contributions in your HSA account after your paycheck deductions begin. At the start of the year, the Nutanix contribution is added to your account immediately after the first pay day. If you enroll mid-year, contributions you elected to make will begin with the first pay period of the month after enrollment.

If you don't set up your account, your funds will be held for 90 days, after which your contributions will be returned to you and you'll forfeit the Nutanix contribution.

Once you’re enrolled in the UnitedHealthcare CDHP – HSA, you can manage your HSA through HealthEquity:

Visit the HealthEquity website to log in.

First-time users: Click Create your new username and password and follow the on-screen prompts to set up your account.
Existing users: Enter your current login credentials to access your account.

Once you’ve registered, you can track your spending, check your balance, reimburse yourself, and more.
When your account reaches $1,000, you’re able to start investing your balance.

Flexible Spending Accounts (FSAs)

Using a Flexible Spending Account (FSA) is like getting a discount on everyday expenses because you’re paying with tax-free money.

Not available if enrolled in the UnitedHealthcare CDHP ‒ HSA.
Contribute up to $3,050 in 2024.
Pay for eligible medical, dental, or vision expenses for you and your eligible dependents, such as deductibles, copays, coinsurance, braces, or glasses.
Use your FSA debit card to pay for eligible expenses.
To learn more, see IRS Publication 502.

Only available if enrolled in the UnitedHealthcare CDHP – HSA.
Contribute up to $3,050 in 2024.
Pay for eligible dental (including orthodontia) and vision expenses for you and your eligible dependents. (You can use your HSA for eligible dental and vision expenses, and for medical expenses, too.)
Use your FSA debit card to pay for eligible expenses.
To learn more, see IRS Publication 502.

Pay for eligible dependent care expenses, such as child day care (under the age of 13) or elder care for tax-dependent adults, that are necessary in order for you and/or your spouse to work, look for work, or attend school full time.
Contribute up to $5,000 in 2024, or $2,500 if married and filing separately.
To learn more, see IRS Publication 502 or IRS Publication 503.
Grace period of 2.5 extra months after the end of the plan year to spend your funds.

Estimate carefully to use it, not lose it

All FSAs are “use it or lose it” accounts, which means you forfeit any money left in your account at the end of the year.

If you have a balance left in your FSA as the year-end approaches, try to spend as much of it as you can on eligible expenses. Request reimbursement or manage your account on the HealthEquity website.

Using your FSA

Once you’re enrolled, you can manage your FSA through HealthEquity:

Visit HealthEquity to log in.

First-time users: Click Create your new username and password and follow the on-screen prompts to set up your account.
Existing users: Enter your current login credentials to access your account.

Once you’ve registered, you can track your spending, check your balance, submit claims, and more.

Kaiser Health Reimbursement Account (HRA)

When you enroll in the Kaiser Permanente HMO plan, you'll have access to an HRA that's owned and funded by Nutanix. You can use this account to help pay for covered in-plan/in-network healthcare services, such as copays. The HRA is a use-it-or-lose-it account, which means that you'll forfeit any money left in your account at the end of the year.

For 2024, Nutanix will contribute:

$1,500 for those who have employee-only coverage.
$3,000 for any other coverage levels.

It’s free money.

It's completely funded by Nutanix, without employee contributions.

Works like a bank account.

Nutanix contributes tax-free money that you can use to pay for your eligible healthcare expenses, like copays and coinsurance payments. You pay for your eligible medical expenses out of pocket as they arise, and then submit your medical claims to HealthEquity for reimbursement.

Nutanix contributes to your HRA annually,

and the funds are available for use at the beginning of the calendar year. The account will close when your coverage ends, and any money left will be forfeited.

Can be paired with a Health Care FSA.

You can set aside your own pre-tax money in an FSA to help cover health expenses that exceed your HRA amount.

Using your HRA

Once you’re enrolled, you can manage your HRA through HealthEquity:

Visit HealthEquity to log in.

First-time users: Click Create your new username and password and follow the on-screen prompts to set up your account.
Existing users: Enter your current login credentials to access your account.

Once you’ve registered, you can track your spending, check your balance, submit claims, and more.

Resources

Commuter Benefits

Nutanix offers a Commuter Benefit Program that lets you set aside pre-tax* dollars from your paycheck to help pay for expenses associated with commuting to work. These expenses include public transportation and monthly parking costs.

HealthEquity administers the program. For more information, visit the HealthEquity portal or call 877-924-3967. You can also review the HealthEquity: Commuter QuickStart Guide.

*FICA limits apply, and state taxes apply in some states. Check with your tax advisor for details.

Spending Accounts

Overview