Story highlights Health and Human Services secretary Tom Price defended a bill to repeal and replace Obamacare

Price was pressed to answer critics who argue the GOP plan weakens protections for some

(CNN) Health and Human Services Secretary Tom Price on Friday hailed House Republicans' passage of a health care reform bill, while cautioning that it's an "important first step" and that critical components remain before "repeal and replace" becomes a policy reality.

"It's an important first step in this legislative process," Sec. Price said on "Fox & Friends" Friday morning.

"The Kentucky Derby is coming up -- you can't win the Triple Crown unless you win the Kentucky Derby."

Price was also asked to answer critics of the GOP bill, who point out that it weakens protections for pre-existing conditions mandated by Obamacare, and is projected to increase health care costs for older and sicker Americans.

Price was asked specifically about waivers in the plan that would allow insurers to charge older Americans even more than five times the premiums of the young.

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