Equitable Health Care for Severe Mental Illnesses Act of 1995

Equitable Health Care for Severe Mental Illnesses Act of 1995 - Declares that it is the policy of the United States that: (1) persons with severe mental illnesses must not be discriminated against in health care; and (2) health care coverage, provided through any financing, must provide for the treatment of severe mental illnesses in a way that is equitable and commensurate with that provided for other major illnesses.

Requires health care coverage, in order to be considered nondiscriminatory and equitable under this Act, to cover services that are essential to the effective treatment of severe mental illnesses in a manner that: (1) is not more restrictive than coverage provided for other major physical illnesses; (2) provides adequate financial protection to the person requiring the medical treatment for a severe mental illness; and (3) is consistent with effective and common methods of controlling health care costs for other major physical illnesses.