Territories Medicare Prescription Drug Assistance Equity Act of 2014 - Amends titles XVIII (Medicare) and XIX (Medicaid) of the Social Security Act (SSA) to: (1) repeal the exclusion of non-residents of the 50 states and the District of Columbia from the Medicare prescription drug program under SSA title XVIII part D (Voluntary Prescription Drug Benefit Program), and (2) promote equitable treatment of the residents of U.S. territories in premium and cost-sharing subsidies under the program.