Way to decline with possibility of reapplying?

I have received an incredibly strong job offer, at one of the best institutions in my field. Unfortunately, I am not in a good place right now (some health and other difficulties), and don't believe I would be able to perform at an effective level (it is a high stress position). The position is a set term (of 2 years), so each year they are hiring new people. Is there anyway to decline that leaves the possibility of being rehired next year? I am dissapointed in myself, and really hoping that when I am in a better place I may be able to reapply.

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