I don’t know what link you got your information from, but on Apple’s website here is a copy of their terms regarding the AppleCare+ Plan:
“Every Apple Watch and Apple Watch Nike+ comes with one year of hardware repair coverage through its limited warranty and up to 90 days of complimentary support. AppleCare+ for Apple Watch and Apple Watch Nike+ extends your coverage to two years from the original purchase date of your Apple Watch and adds up to two incidents of accidental damage coverage, each subject to a $69 service fee, plus applicable tax. In addition, you’ll get 24/7 priority access to Apple experts by chat or phone.”
So-like I said, the first year cost is “Free” with my watch purchase. So buying this “Plan” for two years from the watch purchase date is actually paying for that first year and/or getting one added year for $79. The language in the Plan terms is deceiving.