No - it's lifetime for $10. I got my parent those and get to use it as long as I tag along. They got the older rather ugly looking one, although my mom couldn't find hers and I got her one of the newer ones. There's a list of all the fee areas that are covered, and it includes National Park Service, US Forest Service, Bureau of Land Management, Bureau of Reclamation, Fish and Wildlife Service, and Army Corps of Engineers. The old one even listed the Tennessee Valley Authority, which I believe has some recreation areas around reservoirs.
Here's a list of where they can be purchased:
https://store.usgs.gov/sites/default/files/PassIssuanceList.pdfUnlike the annual pass, there's only room for one signature. I think you can also get a hang tag for parking at some areas like in Lake Tahoe. One restriction is that one is supposed to be a US citizen or permanent resident, although nobody checked for my folks. A foreign visitor can purchase an annual pass.
I guess one of the things you might look into is if you enter with someone younger who doesn't have a pass. When I was going to Zion NP with my folks, I asked about how to get back in myself since I had entered once under my mom's pass (which allows up to 3 other adults). The ranger at the entrance station wrote up a 7 day permit that allowed me to enter myself. During the summer almost everyone has to enter on foot since they don't allow most private cars. You might ask about what to do if you enter with someone else and they might want to head out while you stay.
