.Menopausal Hormone Replacement Therapies and Alternative Treatments and Fairness Act of 2007 - Amends the Social Security Act to include coverage of hormone replacement therapy for menopausal symptoms and alternative treatments for such therapy under Medicare (title XVIII of the Act). Includes alternative treatments for hormone replacement therapy for menopausal symptoms under Medicaid (title XIX of the Act).

Requires coverage of hormone replacement therapy for menopausal symptoms and alternative treatments for such therapy on the same basis as outpatient prescription drugs under: (1) the Public Health Service Act and the Employee Retirement Income Security Act of 1974 (group health plans and group and individual health insurance); (2) the Internal Revenue Code (group health plans);and (3) federal employee health benefit plans.

Includes alternative treatments for hormone replacement therapy for menopausal symptoms under veterans' benefits.