Aging with Respect and Dignity Act of 2005

Aging with Respect and Dignity Act of 2005 - Amends the Internal Revenue Code to allow: (1) cafeteria pension plans and flexible spending arrangements to offer long-term care insurance benefits; (2) a tax deduction, up to $5,000, for contributions to a tax-exempt long-term care account; (3) an exclusion from gross income for distributions from a long-term care account to pay family long-term care expenses; and (4) an exclusion from gross income for the cash surrender value of annuity or life insurance contracts used to purchase long-term care insurance.