on July 5th I was charged $79.99. Is this a yearly cost for my protection plan?

You can see exactly what you were charged for by following these steps - Identify a charge - Apple Support

If you did purchase AppleCare+, it costs $79.99 only if you purchased it to cover an iPhone SE or iPad Air, without the Theft and Loss add-on. See the charts below-

AppleCare Products - iPhone - Apple

AppleCare Products - iPad - Apple

You are not asking Apple - we are all other users and have no idea what your subscriptions are. You need to contact Apple

How to switch to a different subscription plan - Apple Support

Manage App Store purchases, subscriptions, settings, and restrictions on iPad - Apple Support