Medicaid Preservation Act of 2005

Medicaid Preservation Act of 2005 - Prohibits reductions in authorized federal funding under the Medicaid program under title XIX of the Social Security Act until full consideration has been given to the recommendations of the Bipartisan Commission on Medicaid.

Establishes the Bipartisan Commission to review and make recommendations about: (1) each of Medicaid's major functional responsibilities; (2) issues that either threaten or could improve the long-term financial condition of Medicaid; (3) the way Medicare payment policies impact Medicaid, and ways to address specific payment problems that such policies may create in service delivery to populations typically not covered by Medicare, such as children and pregnant women; and (5) payments to safety net providers.

Requires each recommendation to include an analysis of its effect under Medicaid and, if applicable, Medicare and other federal health programs, on: (1) federal and state expenditures; (2) provider payment rates; (3) beneficiary out-of-pocket expenditures; (4) beneficiary access to covered items and services; and (5) coverage of items and services.