My wife and I were assigned to Medicaid last November. Do we reapply this year? When?

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I applied and was accepted online. Our circumstances have not changed, since.
How is renewal handled? in Colorado.

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Medicaid although a federal & state program is administered uniquely by each state. So you would need to find out just how CO runs their program.

For my mom (TX LTC NH Medicaid), the first year annual renewal & recertification requirements got mailed to me (as her on file contact person) about 3mos after the 1 year anniversary of her eligibility. The renewal form was about 6 pages and required a resubmission of documents submitted with the initial application. Like moms funeral preneed contact, life insurance info, plus the current years tax assessor statement on her home & that years awards letters from SS & retirement. All in all the renewal with documents was right under 30 pages. With all due within 14 days of date on the letter from TX DHHS-DADS. And every year there was a time lag of date of letter and date actually mailed.
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Oh, I might contact the facility and see if the request was sent to the facility.
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In my state, the caseworker sends paperwork to be completed and signed annually. They will require current proof of the recipient's income. If you are the next of kin or POA, I'd make sure they have your current mailing address. I'm not sure if they would send it by email only.

If it's a been a year, I would call them to inquire about it just to be on the safe side and to make sure there wasn't an oversight.
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IF they have sent papers to you for re-certification, you must fill them out and send them in, to certify that your financial situation has not changed. You should have a caseworker you can call.
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