Medical Injury Compensation Reform Act of 1995

Medical Injury Compensation Reform Act of 1995 - Makes this Act applicable, with exceptions, to: (1) any medical malpractice liability claim and action brought in State or Federal court; and (2) claims accruing or actions brought after three years after enactment of this Act. Specifies that nothing in this Act shall be construed to establish jurisdiction in U.S. district courts over medical malpractice liability actions on Federal question grounds. Prohibits a medical malpractice liability claim from being brought more than two years after the date the alleged injury should reasonably have been discovered, but in no event after four years after the alleged injury occurred, with an exception for minors. Sets forth provisions regarding: (1) attorney's fees (including limitations on contingency fees); (2) calculation and payment of damages (including limitations on noneconomic damages, periodic payments for future losses, and mandatory offsets for damages paid by a collateral source); (3) notice requirements; (4) injunctive relief; and (5) preemption. Permits State professional societies to participate in disciplinary activities.