Medicaid Expansion Repeal and State Flexibility Act - Amends title XIX (Medicaid) of the Social Security Act, as amended by the Patient Protection and Affordable Care Act (PPACA), to eliminate: (1) the increased federal medical assistance percentage (FMAP) for medical assistance for newly eligible mandatory individuals, (2) related equitable Medicaid support for certain states, (3) maintenance of effort requirements pending full operation of a state healthcare insurance exchange, and (4) minimum essential coverage according to PPACA for Medicaid benchmark benefits.