Patients' Health Care Reform Act

Patients' Health Care Reform Act - Amends the Public Health Service Act to provide for the establishment and governance of : (1) HealthMarts, which are nonprofit organizations that offer health benefits coverage to employers, employees, and individuals through contracts with health insurance issuers; and (2) individual membership associations (IMAs), which are organizations that offer health benefits coverage to members through health insurance issuer contracts.

Requires the Secretary of Heath and Human Services to pay 50 percent of a state's costs to provide health benefits coverage under a high-risk pool, a reinsurance pool, or other risk-adjustment mechanisms used to subsidize the purchase of private health insurance.

Small Business Health Fairness Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide for establishment and governance of association health plans, which are group health plans whose sponsors are trade, industry, professional, chamber of commerce, or similar business associations and which meet certain ERISA certification requirements.

Amends the Internal Revenue Code to provide individuals with a tax credit for payments for qualified health insurance and allows the Secretary to make advance payments of the credit to providers. Excludes from gross income any compensating coverage payment made by an employer to an employee who elects not to participate in the employer's subsidized health plan.

Requires health insurance issuers offering coverage in connection with a group health plan to provide certain information to the administrator of the plan, including information regarding: (1) plan benefits and exclusions; (2) a participant's financial responsibilities; and (3) legal recourse options for participants and beneficiaries.