4 Things Retirees on Medicare Are Entitled to For Free

Once you retire, many of your living costs might drop. But if there's one expense that's likely to rise, it's healthcare.

For one thing, health issues tend to arise with age. But also, you may find that your costs go up once you become a Medicare enrollee.

Image source: Getty Images.

That said, there are certain benefits under Medicare you may be entitled to without having to spend a dime. Here are a few you should know about.

1. Part A hospital coverage

Medicare consists of a few different parts. If you have original Medicare, you'll need Part A for hospital care, Part B for outpatient care, and Part D for prescription drug coverage.

Parts B and D charge enrollees monthly premiums (though some no-premium Part D plans do exist). But Medicare Part A is generally free for enrollees.

You're typically eligible for Part A for free once you turn 65 if:

• You're entitled to Social Security benefits
• Your spouse (whether living or not) is eligible to receive Social Security
• You or your spouse worked long enough in a government job and paid Medicare taxes

People who don't meet one of these requirements can typically obtain Part A coverage by paying a monthly premium. But most seniors get Part A for free.

That said, just because you get free Part A coverage doesn't mean you won't face other costs under Part A. Each time you're admitted to the hospital, for example, there's a hefty deductible to pay. And if your stay extends beyond a certain point, you'll be on the hook for daily coinsurance.

It's important to have plenty of savings to cover these costs, whether that's in an IRA, 401(k), or health savings account (HSA). Buying a Medigap policy is another good way to potentially defray some of the expenses you might face as a Part A enrollee.

2. A yearly wellness visit

As a Medicare enrollee, you're eligible for a wellness visit each year at no cost to you. It's an opportunity for your doctor to review your medications, answer health-related questions you might have, and advise you on what screenings you might need.

However, if that wellness visit leads to additional testing or services, you could face coinsurance costs. Once again, this is where having retirement savings comes in handy.

3. Vaccines

As a Medicare enrollee, you're typically eligible for no-cost vaccines. These include annual shots for influenza and COVID-19.

During your yearly wellness visit, your doctor can discuss which vaccines are recommended for you. In addition to seasonal vaccines, they may, for example, suggest vaccines for illnesses like shingles, tetanus, or RSV (respiratory syncytial virus), none of which you'd typically pay for.

4. Depression screenings

Retirees may be more susceptible to depression for a few reasons. Aging can bring about health issues, which can be challenging to cope with. Also, some people struggle mentally once they stop working because they lose their sense of purpose.

As a Medicare enrollee, you're typically eligible for a yearly depression screening. If you require follow-up treatment, however, that may come at a cost. Specifically, you may be looking at coinsurance under Part B.

Know your costs under Medicare

While there are a number of services Medicare provides for free, there are also a good number that it won't cover at all, like dental care, eye exams, and hearing aids (though you may have these specific services covered if you enroll in Medicare Advantage). But even when services are covered by Medicare, there are often out-of-pocket costs involved.

It's important to understand what costs you might face as a Medicare enrollee so you're able to budget for them accordingly. And know that the more money you manage to save ahead of retirement for healthcare expenses, the less stress you're likely to have later on.

The Motley Fool has a disclosure policy.