This year marks the first wave of baby boomers who will hit retirement age. For those folks, life overseas beckons. However, retiring abroad will give those retirees logistical headaches.

Many of today’s boomers are heading permanently offshore to stretch their retirement dollars. Those expatriates will be presented with a number of challenges, ranging from opening a local bank account to avoiding being gouged for services.

Many countries, from Belize to South Africa, offer inducements to attract foreign retirees. However, making sure you’ve got health insurance can be a big problem. Few U.S. employers offer health-care coverage to retirees that reside out-of-country. U.S. carriers typically don’t provide individual coverage to Americans living abroad. Moreover, the federal Medicare program generally doesn’t cover costs outside the U.S. As such, many retirees either pay out of pocket or, once eligible for Medicare at age 65, return to the U.S. from time to time for care.

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