State High Risk Pool Funding Extension Act of 2005

[AI summary unavailable — showing source text] State High Risk Pool Funding Extension Act of 2005 - Amends the Public Health Service Act to reauthorize funds for states to create and operate existing high risk health insurance pools. Increases the maximum allowable premium charged under a qualified high risk pool to 200% of the premium for applicable standard risk rates for those states that use 50% of the grant amount to reduce premiums for enrollees. Defines "standard risk rate" as a rate that: (1) is determined under the state high risk pool by considering the premiums charged by other health insurers in the same market; (2) is established using reasonable actuarial techniques; and (3) reflects anticipated claims experience and expenses. Revises the definition of "qualified high risk pool" to allow a state to elect to meet the requirement to provide all eligible individuals with health insurance coverage by utilizing an acceptable alternative mechanism that includes a high risk pool as a component. Amends the formula for allocating funds to states to operate such pools to provide one-third of the funds to eligible states equally, one third based on the number of uninsured individuals in a state relative t…