You might check here to compare w/ your current policy. Prior to this year, Medicare only covered your first physical and it had to be within x months of turning 65 (forget what x was, something like 6 or 12mos). Subsequent physicals were not covered. Looks like starting this year, the subsequent physicals are covered although you would have to compare w/ your own private policy to determine whether coverage is more or less.
One thing to keep in mind is how often procedures are allowed. In a previous year, I thought as long as I went once a year, certain things were allowed.........turns out certain things were allowed every 12 mos (not once a year) and when I went in Nov when the previous year was in Dec, certain procedures (lab tests, in this case) were ruled ineligible for reimbursement.
I see in the referenced chart that the preventive physicals are allowed annually......I'd double check to be sure that meant once a year and not once every 12 mos.