Faculty who have 15 or more years of service credit at retirement are eligible for the retiree Health Insurance Credit. This is a monthly payment paid directly to you, intended to offset the cost of your health insurance premium payments in retirement. JMU retirees are paid a monthly credit in the amount of $4.25 per year of service. For example, if you retire with 25 years of service, you will earn a monthly Health Insurance Credit of $106.25 (25 x $4.25). The Health Insurance Credit is a non-taxable benefit payable to you for your lifetime. Survivors do not continue to receive the retiree’s Health Insurance Credit upon their death.