Discovering Your Dream Retirement: Top 4 International Destinations for BorgWarner Employees

Healthcare Provider Update: Healthcare Provider for BorgWarner BorgWarner offers health insurance coverage to its employees, but specific provider details can vary by location and plan. Typically, they provide options that may include large health insurance networks like Blue Cross Blue Shield or Cigna, as well as other regional insurers depending on the geographic area. Employees should check with their HR department for the precise providers available to them under BorgWarner's health plans. Projected Healthcare Cost Increases for BorgWarner Employees in 2026 In 2026, BorgWarner employees are likely to face significant healthcare cost increases as many factors converge to drive premiums higher. A report indicates that with the anticipated expiration of enhanced ACA federal subsidies, rising medical expenses-especially around specialty medications-and insurer rate hikes could see out-of-pocket premium costs soaring by as much as 75% for many individuals. Coupled with employers' plans to raise deductibles and out-of-pocket maximums to manage rising expenses, this could leave employees grappling with the financial implications of their healthcare coverage. Therefore, it is essential for BorgWarner employees to carefully review their health benefits and strategize to mitigate these rising costs. Click here to learn more

BorgWarner employees planning to retire abroad should also take the time to find out how happy people are and how well they are treated in the healthcare systems of the countries they plan to retire in,' recommends Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.

Wesley Boudreaux from The Retirement Group, a division of Wealth Enhancement Group, recommends that BorgWarner retirees should look for better opportunities for health and happiness abroad than traditional retirement destinations, especially in Portugal and Spain, which have favorable taxes and climates.

In this article we will discuss:

1. Increase in the Number of U.S. Retirees Leaving the Country: Emphasizing the rising trend of American retirees leaving the country and concentrating on Europe.

2. The Best Countries to Live in Terms of Quality of Life: Why Spain, Portugal, and other countries are chosen for their climate, healthcare, and cost of living.

3. Financial Implications for Retirees: Explains the costs and benefits of retiring abroad in terms of taxes and other factors.

The trend of American retirees exploring the option of international retirement destinations is on the rise. The Social Security Administration reports that the number of U.S.  retirees collecting benefits from abroad has jumped from 413,000 to 760,000 in the last three years, many of whom have chosen Europe as their destination.

The BorgWarner retirees may find better healthcare, standard of living and safety in various parts of the world as identified by the recent study by Global Citizen Solutions.  Among the best places for retirement, Spain and Portugal are the most popular.

The capital of Spain is the city that was ranked highest in the quality of life with a score of 100 based on factors such as wind speed, temperature, and health care.  Researcher Laura Madrid of Global Citizen Solutions argues that the public health sector in Spain and affordable private insurance services are key in enhancing the quality of life of its citizens. Moreover, BorgWarner retirees who do not want to use their private vehicles as a means of transport during retirement find the Spanish transport system to be very efficient and relatively cheap.

The neighboring country, Portugal comes close behind with a nearly perfect score of 99.79. The climate and low costs of healthcare have attracted an increasing number of American retirees to the region. Both Spain and Portugal are generally cheaper than many European countries and the United States and have good tax exemptions for new exotic residents for the initial years of their stay.

Costa Rica is the third place, Uruguay and Mexico are the second and the first, respectively. That is why Mexico is better than Portugal in terms of the quality of life. In the economic category, Malaysia is the best as there is no tax on income earned outside the country.  It should be noted that all the citizens of the United States living abroad must meet the tax reporting requirements to the United States.

The average New Zealand is hard to beat when it comes to retirement, especially with regard to social adaptation and the attitude towards immigrants.  The main criteria that influence the choice of retirees when moving overseas are tax benefits, good healthcare, and affordable housing. This study establishes a pattern of older Americans who are looking for better financial situations, tax exemptions, and cultural experiences through retirement abroad.

For BorgWarner retirees who are planning to retire abroad, Portugal is a country that deserves attention since this nation offers not only a high standard of living but also some tax benefits. As for International Living, Portugal is one of the best countries for expat retirees due to its beautiful scenery, friendly people, and excellent but affordable healthcare (International Living, 2024).

Retiring from BorgWarner abroad can be a bit like finding a secret paradise after a long journey: walking into a country with sun, healthcare, low taxes, and so many new experiences. Just as travelers look for comfortable and interesting places to visit, seniors choose countries like Spain and Portugal for their decent public healthcare, affordable living, and special tax benefits.  It is a chance to enjoy life’s good things in an environment which is designed for peace, relaxation, and community.

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Disclosure:

This information is not intended as recommendation. The opinions are subject to change at any time and no forecasts can be guaranteed.  Investment decisions should always be made based on investor's specific circumstances. Investing involves risk, including possible loss of principal.

Sources:

1. Social Security Administration.
SSA Payments Outside US | International Programs,' Social Security Administration, 2025, https://www.ssa.gov/international/payments_outsideUS.html

2. Rader, Jameson.
Social Security Abroad for U.S.  Expats and Retirees [Guide].'' Savvy Nomad, 2024, https://blog.savvynomad.io/social-security-abroad-for-us-expats-and-retirees-guide

3. 'How to Retire Abroad as a US Citizen: The Complete Guide.' ExpatDen, 2024, https://www.expatden.com/us/how-to-retire-abroad-as-a-us-citizen-the-complete-guide.

4. Behrens, Frederic.
American Expat Social Security and Retiring Abroad.' Cerity Partners, 2024, https://www.ceritypartners.com/american-expat-social-security-and-retiring-abroad

5. 'Expat Retiring Abroad? Rules on Taxes, Social Security, and Benefits.' PlanWell Financial Planners, 2024, https://www.planwellfp.com/expat-retiring-abroad-rules-on-taxes-social-security-and-benefits.