C# - Cached Objects Update Automatically With The Object Updating?

I found some code on the web and it threw me off. Look at the code below. You will notice only when the Hits == 1, does the cache get added. After that, the cache object isn't updated. It begs the question, does the object when updated, update the cache as well automatically? The answer here would make me remove some code in some of my classes.

public static bool IsValid( ActionTypeEnum actionType )
{
HttpContext context = HttpContext.Current;
if( context.Request.Browser.Crawler ) return false;
string key = actionType.ToString() + context.Request.UserHostAddress;
var hit = (HitInfo)(context.Cache[key] ?? new HitInfo());
if( hit.Hits > (int)actionType ) return false;
else hit.Hits ++;
if( hit.Hits == 1 )
context.Cache.Add(key, hit, null, DateTime.Now.AddMinutes(DURATION),
System.Web.Caching.Cache.NoSlidingExpiration,
System.Web.Caching.CacheItemPriority.Normal, null);
return true;
}

I would only guess that I would need to add the lines after the if statement:

if( hit.Hits == 1 )
context.Cache.Add(key, hit, null, DateTime.Now.AddMinutes(10),
System.Web.Caching.Cache.NoSlidingExpiration,
System.Web.Caching.CacheItemPriority.Normal, null);
else if (hit.Hits > 1)
{context.Cache.Remove(key);
context.Cache.Add(key, hit, null, DateTime.Now.AddMinutes(10),
System.Web.Caching.Cache.NoSlidingExpiration,
System.Web.Caching.CacheItemPriority.Normal, null);
}
Found the code at the bottom of the page here: http://www.codeproject.com/KB/aspnet/10ASPNetPerformance.aspx?msg=2809164