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 them 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 (FSA) | Kaiser HRA | Commuter Benefits
Click the blue circle with three white dots to access the Quick Links menu.

Health Savings Account (HSA)

If you enroll in the UnitedHealthcare HDHP with HSA, you can contribute to a Health Savings Account (HSA) administered by HealthEquity. The HSA is only available to those enrolled in the UnitedHealthcare HDHP with HSA plan.

An HSA is an account you own that allows you to build up savings to be used to pay for eligible medical expenses by allowing funds to be rolled over year to 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 receive both the Nutanix’s contributions or your own contributions. You’ll receive a welcome packet from HealthEquity with instructions on how to set up your account (within 14 days of enrollment).

Highlights
  • Triple tax advantage: The money you put into your HSA is pre-tax on a federal basis, and your money isn’t taxed when you take it out for qualified expenses. Any earnings on your savings will grow 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 out of your own pocket and 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 medical 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 HDHP with HSA: By law, you can contribute to an HSA only if you’re enrolled in a high deductible health plan.

Tax-Advantaged Accounts Make a Difference

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

Without an HSA, you would pay… Savings
28% in federal income tax $560
5% in state income tax $100
7.65% in Federal Insurance Contributions Act (FICA) tax $153
Total tax savings for year with an HSA $813

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. It’s also pre-tax in most states.* And 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 $600 if you have employee-only medical plan coverage, or $1,200 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 $1000 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.

2022 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 2022, the total contribution limits are:

Coverage Level Nutanix Contribution* 2022 IRS Maximum Maximum You Can Contribute**
Employee Only $600 $3,650 $3,050
Employee + Spouse/Partner and/or Child(ren) $1,200 $7,300 $6,100

*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 are age 55 or older or if you will 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

Who’s NOT eligible to contribute to an HSA?

Most employees are eligible to enroll in the UnitedHealthcare HDHP with 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 that’s not a high deductible health plan UnitedHealthcare HDHP with 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 will 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 60 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 contributions to your HSA on January 1. (If you enroll during the year, Nutanix’s contributions are prorated based on your hire or event date.)

You will see your contributions in your HSA account after your paycheck deductions begin. At the start of the year, your Nutanix’s contributions are 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 have not set up your account, your funds will be held for 90 days, after which your contribution will be returned to you and you will forfeit the Nutanix contribution.

Manage your HSA

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

  • Visit 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 $1000, 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.

Tax-Advantaged Accounts Make a Difference

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

Without an HSA or FSA, you would pay… Savings
28% in federal income tax $560
5% in state income tax $100
7.65% in Federal Insurance Contributions Act (FICA) tax $153
Total tax savings for year with an HSA $813

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.

Healthcare FSA

  • Contribute up to $2,750 in 2022.
  • Pay for eligible medical, dental, or vision expenses for you and your eligible dependents, such as plan deductibles, copays, coinsurance, braces, or glasses.
  • To learn more, see IRS Publication 502.
  • Request a FSA debit card to use on eligible expenses.
  • Not available if enrolled in the UnitedHealthcare HDHP with HSA.

Limited Purpose FSA

  • Only available if enrolled in the UnitedHealthcare HDHP with HSA.
  • Contribute up to $2,750 in 2022.
  • Pay for eligible dental (including orthodontia) and vision expenses for you and your eligible dependents. (You can use your HSA for eligible medical expenses.)
  • To learn more, see IRS Publication 502.
  • Request a FSA debit card to use on eligible expenses.

Dependent Care FSA

  • 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.
  • To learn more, see IRS Publication 503.
  • Contribute up to $5,000 in 2022, or $2,500 if married and filing separately.
  • To learn more, see IRS Publication 502.
  • 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 HRA

When you enroll in the Kaiser Permanente HMO plan, you will have access to a Health Reimbursement Account (HRA) that is 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 will forfeit any money left in your account at the end of the year.

For 2022, Nutanix will contribute:

  • $1,500 for those who have employee-only coverage.
  • $3,000 for any other coverage levels.
Highlights
image
It’s free money.

Completely funded by Nutanix, without employee contributions.

Works like a bank account.

Nutanix contributes tax-free money to an account 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 and submit 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.

Getting started

You can enroll in commuter benefits at any time during the year. To start setting aside pre-tax money, register online with HealthEquity.

  1. Visit the HealthEquity portal.
  2. Click Log in/Register and select Employee Registration.
  3. Identify yourself (ID code: last 4 digits of your SSN).
  4. Accept policies.
  5. Enter/verify contact information.
  6. Enter/verify reimbursement method.
  7. Select preferences.
  8. Create username and password.

Once registered, you can make or change your elections. You can also manage your account as needed.

Submitting claims
  • HealthEquity Debit Card: Use your HealthEquity debit card like you would a regular credit card, at approved merchants or online.
  • Smart Cards: Commuter Benefit Program contributions are loaded directly onto transit agency smart cards where available.
  • Buy My Pass: You identify which transit agency or vanpool provider to buy from, and the pass is delivered to your home.
  • Pay My Provider: You can access your account online and fill out a simple form to pay transit agencies or parking providers—no receipts or claim forms required.
  • Pay Me Back: You can arrange for commuter account funds to be deposited directly to a checking account or for a check to be mailed to reimburse you for expenses you’ve already paid.
Changing your elections

You can change your Commuter Benefit Program elections anytime during the year. As long as you enroll or make changes by the 10th of the month, your new election will take effect as of the first of the following month. (For example, if you make changes on May 9, your changes will be effective June 1.)

Any changes made on or after the 10th of the month will apply the month after the following month. (For example, if you make changes on May 14, your changes will be effective July 1.)

To change your contribution amount:

  1. Log in to the HealthEquity portal.
  2. Click on Commuter Account.
  3. Choose the type of order you wish to make:
    • Every month: Repeats the same order automatically each month until you change or cancel your election.
    • One time: Creates your election for one month at a time.
    • Manage calendar: Allows you to choose specific benefit months in which you would like to have a commuter election.
  4. Enter your email address to receive confirmations electronically.