No. There are 2 subscriptions (yeah - we know...)
Maintenance Subscription is Yearly and allows access to Extensions, some pre-release features and access to the next release, so if you bought it now you would get 2017 (next April-ish) for "free". This is the one which, if you fail to pay for next year, you will lose and not be able to regain.
Desktop Subscription is pay to play. Monthly, quarterly or yearly, I think. You can stop and start so if you bought it for 1 month, used it for the month then stopped you would not be able to use the s/ware (once that month is up) until you repurchase another subscription. Useful if you need extra seats in order to get a job out of the door without paying the full license price. Pros and cons to all this - depends entirely on your requirements.
Remember - Service Packs are always available - they are patches (fixes). Extensions are not as they contain new features which are not available without subscription (either kind). Also (as I'm a Max not a Maya user) the licensing might be different, though I believe it is pretty similar. Resellers are the place to go for more certainty.
Max 2016 (SP1/EXT1)
Win7Pro x64 (SP1). i5-3570K @ 4.4GHz, 8Gb Ram, DX11.
nVidia GTX760 (2GB) (Driver 430.86).