There’s a reason so many retirees worry about running out of money. Once you move over to a fixed income, it’s important to keep your costs as fixed as possible. But as we all know, inflation has a sneaky way of driving living costs up.

This especially holds true in the context of healthcare. Fidelity says that a 65-year-old who’s leaving the workforce this year can expect to spend $172,500 on healthcare costs in retirement. That’s a 4% increase from last year, and a pretty daunting number overall.

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That’s why it’s so important to be strategic when it comes to all things Medicare. With that in mind, here are a few Medicare moves that could save you big money in retirement.

1. Enroll on time

Although Medicare eligibility generally begins at 65, you don’t have to wait until you turn 65 to sign up. Your initial enrollment period begins three months before the month of your 65th birthday, and it ends three months after the month you turn 65.

If you don’t enroll during that initial window, but rather much later, you’ll put yourself at risk of lifelong Medicare surcharges. Specifically, you’ll face a 10% increase in your Part B premium costs for each 12-month period you were able to get Medicare but didn’t enroll. And that surcharge is one that applies for life.

For this reason, it’s best to plan to enroll in Medicare on time unless you have qualifying group health coverage through an employer. In that case, you’ll generally qualify for a special enrollment period and won’t be penalized for failing to enroll during your seven-month initial enrollment window.

2. Review your plan choices annually

Each year, Medicare holds an open enrollment period from Oct. 15 through Dec. 7. During this window, existing Medicare enrollees can make a host of changes, such as:

• Joining a Medicare Advantage plan for the first time.
• Switching Medicare Advantage plans.
• Switching Part D drug plans.
• Moving from Medicare Advantage to original Medicare.

It’s important to review your plan choices each year, even if you’re reasonably happy with your existing coverage. That’s because:

• Your plan’s rules and costs can change.
• Your healthcare needs can change.
• There may just be a better plan out there for you.

Switching Medicare plans could, depending on the circumstances, result in lower premiums and copays. So it pays to do your research each fall.

3. Buy a Medigap plan

If you’re planning to stick with original Medicare, as opposed to Medicare Advantage, then it pays to buy Medigap coverage early on. Medigap is supplemental insurance, and it could kick in when you’re facing hefty costs like coinsurance for a hospital stay or skilled nursing facility.

Your initial Medigap enrollment window begins the month you’re enrolled in Medicare Part B and are 65 or older. And that window lasts six months.

It pays to buy your Medigap coverage during that time because you can’t be denied for pre-existing conditions. If you wait, you risk being denied coverage for your plan of your choice, or getting coverage at a (much) higher premium rate.

It’s natural to worry about money in retirement. But if you’re smart about Medicare, you can potentially lower some of your health-related expenses and stretch your nest egg further. So it pays to make these essential Medicare moves if you like the idea of having healthcare in retirement cost less.