No but you can get a refund pro rated on what you haven't used then buy a new AppleCare for new device. I just cancelled mine on my 4s and got $75 back then get new policy on my 5
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To get an idea take # of months you've had the 4s and multiply by $4.00 that's about how much you have used.
I received a prorated refund from my iPhone 4S' Applecare+. I am surprised that Apple still hasn't sent me the 'would you like to buy Applecare email' as others have.
I bought a black iPhone 5 on launch day, swapped it Monday for a white one. Also bought applecare on launch day. Called 800myiphon Monday and they swapped the applecare over to my new phone. They also told me that they just started doing this.