About 1% of US retirees retire abroad and half already had close connections to the destination country.
The meme that US retirees are flocking abroad is largely made up – sure, people are interested and may look into it but the reality is few will move abroad. Many countries also have age restrictions on inbound immigrants – such as NZ and Australia. Canada has an immigration points system that deducts points for each year over age 40.
For one, they lose access to their Medicare benefits. In most situations, Medicare only pays for health care services in the United States. If they stop paying Part B premiums while outside the country, then they will be surcharged – forever – on their Part B premiums if they return to the U.S. later.
Unfortunately, most people in the U.S. media hate the U.S. – and love running these stories as an opportunity to trash the U.S. – typically over housing costs, health care and crime.