Rand Paul: ObamaCare replacement goal is to insure most people at lowest cost

Sen. Rand PaulRandal (Rand) Howard PaulSenate braces for fight over impeachment whistleblower testimony Pelosi names first-ever House whistleblower ombudsman director The Hill's Morning Report — AG Barr, GOP senators try to rein Trump in MORE (R-Ky.) on Sunday criticized ObamaCare and said the goal of his replacement plan is to insure as many as people as possible at a low cost.

"Our goal is to insure the most amount of people, give access to the most amount of people, at the least amount of cost," Paul said on CNN's "State of the Union."

"And I think this is where ObamaCare failed. They wanted to insure people, their motives were good, their heart was in the right place. But they put so many mandates in it that they made it too expensive."

Now, Paul said, some companies in the individual market are losing money because "young, healthy people don't want to buy it."

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"Because they're told, 'Hey you can get it anytime after you get sick,'" Paul said. "And so they've broken the insurance model."

Paul said one of the key reforms of the replacement for President Obama's signature healthcare legislation is to "legalize the sale of inexpensive insurance."

"That means getting rid of the ObamaCare mandates on what you can buy," Paul said.

"We're going to help people save, through health savings accounts as well as a tax credit."

The replacement will also allow "individuals to come together in associations to buy insurance," Paul said.

President-elect Donald TrumpDonald John TrumpRussian sanctions will boomerang States, cities rethink tax incentives after Amazon HQ2 backlash A Presidents Day perspective on the nature of a free press MORE vowed throughout his presidential campaign to repeal and replace ObamaCare.

Repealing and replacing the Affordable Care Act has been a top priority of the new Congress, with Republicans now holding majorities in both the House and the Senate.

The House on Friday took the first step toward repealing ObamaCare with a vote largely along party lines to approve a budget resolution serving as the vehicle to wind down the law.

Paul has been an advocate of repealing and replacing ObamaCare at the same time.