In the context of accelerating population aging and rising health costs, it raises public awareness that how to control the health costs and maintain the health status of the elderly people simultaneously in the new round of Chinese health reform. This study uses the panel data from the China Health and Retirement Longitudinal Study（CHARLS）2013 and 2015 to evaluate the economic and health performance of health checkups for the elderly under the coarsened exact matching and difference-in difference framework. The results indicate that health checkups improved inpatient service utilization, reduced outpatient service utilization, and significantly improved health-related quality of life without significantly increase in health care burden. However, the economic and health performance had significant age and urban-rural heterogeneity. It is recommended to improve the content and process of free health checkups for the elderly to enhance the sense of gain; actively promote the development of the "Block-chain + Health" service model and strengthen the use of health data; improve the health literacy of the population and build a governance pattern of "universal participation in the health community".