Mexico Wants to Lure More Retirees

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Mexico is developing a plan to attract more U.S. retirees, including provisions to offer them health care, according to a published report.

Mexico is already home to 1 million U.S. retirees, and that number could jump to 5 million by 2025, the Miami Herald reports. New proposals would likely allow Medicare payments to Mexico facilities certified by the U.S., the Herald says.

"It's one of the pillars of our plans to trigger economic and social well-being in both countries," Mexico's ambassador to the United States Arturo Sarukhan told the Herald.

Mexico's Carlos Slim, the world's richest man, is already investing in clinics to handle the new wave of medical tourism, Investment Properties Mexico notes. A recent study found that 44 percent of U.S. retirees live on less than $1,000 a month in Mexico, the site reports.

Any move by Mexico to offer health care for U.S. citizens is big news in the increasingly intense competition for retirees. Belize and Panama, for example, already offer enticing programs for retirees.

One country without a comprehensive plan to entice international retirees: the United States.

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