Alleviating Adverse Childhood Experiences Act This bill amends XIX (Medicaid) of the Social Security Act to allow a state Medicaid program to cover, as medical assistance, services furnished under an early-childhood home-visitation program that: conforms to a clear, consistent, research-based home-visitation model; is designed to result in improvements for participating families in areas related to maternal and newborn health, child health and development, school readiness and academic achievement, crime and domestic violence, economic self-sufficiency, parenting skills, and resource coordination; gives priority to serving certain high-risk populations; and meets other specified requirements. A state Medicaid program that opts to cover such services must establish procedures to ensure that the participation of each eligible family is voluntary. In addition, the bill requires each state to conduct a statewide needs-assessment to identify: at-risk communities in the state, according to specified indicators; the capacity of existing home-visitation programs and initiatives in the state; and the state's capacity for providing substance-abuse treatment and counseling services to individuals and families in need. The Centers for Medicare & Medicaid Services must carry out specified research and evaluation activities related to the implementation and effectiveness of home-visitation programs.