Wealthy Americans are leaving the U.S. for countries with lower taxes and a different lifestyle \u2014 but those aren\u2019t the only drivers.<\/p>\n
The soaring cost of private health care has become a major factor in \u201cmillionaire migration,\u201d steering affluent households toward countries that offer lower health insurance premiums and easier access to specialized private care.<\/p>\n
\u201cGlobal mobility is becoming a core risk-management strategy for wealthy families,\u201d Christian H. Kaelin, chairman of Henley & Partners, told Business Insider (1).<\/p>\n
Based on an analysis of client data and the global SIP Health Cost Index 2025, he said his firm\u2019s clients are \u201cscrutinizing not only access to residence and citizenship, but also the real cost of sustaining that lifestyle \u2014 especially the price of reliable private health care.\u201d<\/p>\n
Kaelin said destinations that \u201clook attractive on paper\u201d may not be as attractive once the true \u201chealth care exposure\u201d is understood,<\/p>\n
In 2025, it\u2019s estimated that 142,000 millionaires relocated across international borders \u2014 the highest ever recorded, according to the Henley Private Wealth Migration Report 2025 (2). That number is expected to climb to 165,000 in 2026.<\/p>\n
While the U.S. was expected to receive an inflow of 7,500 new millionaires in 2025, Henley & Partners note that American nationals \u201crepresent the largest source market for investment migration applications worldwide by a significant margin, accounting for over 30% of all applications processed by Henley & Partners so far in 2025.\u201d<\/p>\n
Since many of these affluent households are aging into years of higher health care use, we could see a magnification of this great wealth flight.<\/p>\n
The U.S. tops the list as the most expensive private health care market in the world, according to the SIP Health Cost Index 2025 (3), a global benchmark of private health care and medical insurance.<\/p>\n
The benchmark ranks 50 countries on the cost of private health care based on international private medical insurance (IPMI) premiums. The U.S. has an average annual IPMI of $17,968 per person.<\/p>\n
While Hong Kong and Singapore are close on its heels, countries like China and Thailand have broken the top 12, \u201cdriven by demand for premium hospitals and rising inpatient costs,\u201d according to Business Insider (1).<\/p>\n
Story Continues <\/p>\n
Even for affluent families, steep premiums may be a factor for those heading into retirement.<\/p>\n
\u201cIt can make a significant difference whether you pay $30,000 plus for private health insurance versus $10,000,\u201d Kevin B\u00fcrchler, CEO of SIP Medical Family Office (behind the SIP Health Cost Index 2025), told Business Insider (1).<\/p>\n
Mid-range markets include South Africa, Saudi Arabia and Monaco, which range from $7,100 to $7,600, while more cost-effective options include Vietnam, Netherlands and Morocco.<\/p>\n
Read More: The average net worth of Americans is a surprising $620,654. But it almost means nothing. Here\u2019s the number that counts (and how to make it skyrocket)<\/a><\/p>\n Within the U.S., some states are losing wealthy residents \u2014 such as California and New York (4) \u2014 but the main reasons continue to be high taxes and a high cost of living. But health care issues could be a growing concern, particularly with Medicare Advantage network restrictions and limited access to specialty care and top-tier hospitals.<\/p>\n Some states may start seeing more millionaire migrants because of their health care ecosystems. According to SeniorSite\u2019s research-based rankings, 15 states are clear winners for senior health care (5).<\/p>\n Massachusetts \u201cdominates national health care rankings, with Boston-based facilities claiming the top spots in America\u2019s Best-in-State Hospitals 2025 rankings,\u201d SeniorSite notes. While California has one of the most progressive senior health programs; its In-Home Supportive Services program \u201cleads the nation in home-based care models.\u201d And Hawaii, noted for \u201chealth care excellence,\u201d offers a \u201ccomprehensive system of aging and caregiver support services.\u201d<\/p>\n High-net-worth migration can change local economies. According to Henley & Partners, \u201ca migrant bringing USD 10 million is equivalent to a country generating USD 10 million in export revenue as both transactions generate USD 10 million of forex revenue for the country\u201d (6).<\/p>\n They say millionaire migrants can also boost the local stock market through equity investments, create local jobs by starting a business and indirectly bring money into the economy through their spending power, from luxury retail to fine dining.<\/p>\n This, in turn, can have a \u201cmultiplier effect.\u201d The firm notes that, \u201c100 high-net-worth individuals moving to a country can result in its high-net-worth population increasing by well over 200 as it pushes local asset prices up and therefore drives up the wealth of locals living in that country\u201d(6).<\/p>\n If more wealthy Americans are now prioritizing affordable, high-quality health care, a millionaire migration could signal broader stress in the U.S. health care system \u2014 one that affects all locals, not just the wealthy.<\/p>\n Their choices may forecast which cities, states and global regions are best positioned for rising medical costs and an aging population. This, in turn, could push certain areas into boomtown status \u2014 and leave others struggling to retain high-income residents.<\/p>\n Even if you\u2019re not a millionaire, keeping track of these migration patterns could help you evaluate your own relocation or retirement plans.<\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines<\/a>.<\/p>\n Business Insider (1<\/a>); Henley & Partners (2<\/a>), (6<\/a>); SIP Medical Family Office (3<\/a>); Marcus by Goldman Sachs (4<\/a>); SeniorSite (5<\/a>)<\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"Wealthy Americans are leaving the U.S. for countries with lower taxes and a different lifestyle \u2014 but those…\n","protected":false},"author":2,"featured_media":418056,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[199910,28,270,101,252,9041,43172,1171,156568],"class_list":{"0":"post-418055","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-affluent-households","9":"tag-business","10":"tag-business-insider","11":"tag-economy","12":"tag-health-care","13":"tag-health-insurance","14":"tag-henley-partners","15":"tag-millionaire","16":"tag-wealthy-americans"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/418055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=418055"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/418055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/418056"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=418055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=418055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=418055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}