Medicare Late Enrollment Assistance Act of 2006 - Amends part D (Voluntary Prescription Drug Benefit Program) of title XVIII (Medicare) of the Social Security Act (SSA) to eliminate months in 2006 from the calculation of any late enrollment penalty under Medicare part D.
Makes appropriations to the Secretary of Health and Human Services for FY2007 to: (1) make grants to states for state health insurance counseling programs receiving assistance under the Omnibus Reconciliation Act of 1990; and (2) enable the Assistant Secretary on Aging to provide grants to states for area agencies on aging to provide eligible Medicare beneficiaries with Medicare benefits information.
Amends SSA title XVIII to set additional limitations on the total amount of expenditures from the Medicare Advantage Regional Plan Stabilization Fund for periods prior to October 1, 2007, and between October 1, 2007, and September 30, 2011.