Medicare Prescription Drug Affordability Act of 2005

[AI summary unavailable — showing source text] Medicare Prescription Drug Affordability Act of 2005 - Amends title XVIII (Medicare) of the Social Security Act to revise part D (Voluntary Prescription Drug Benefit Program) as added by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, to provide for: (1) no premium; (2) no deductible; (3) coinsurance at a rate of 10%; (4) a $1,500 annual limit on out-of-pocket spending on covered drugs; and (5) reduced cost-sharing for lower-income individuals. Revises the Medigap program and the membership and duties of the Medicare payment advisory commission. Pharmaceutical Market Access Act of 2005 - Amends the Federal Food, Drug and Cosmetic Act to: (1) repeal certain sections of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 relating to importation of prescription drugs from Canada; and (2) restore previous law, amended to direct the Secretary of Health and Human Services to allow qualifying individuals (in addition to pharmacists and wholesalers) to import covered products. Repeals the mandate that the Secretary require a foreign seller to specify the original source of the product and the amount of each product lot originally received.…