Sen. Rand Paul Randal (Rand) Howard PaulGOP senator to quarantine after coronavirus exposure The Hill's Morning Report - Sponsored by National Industries for the Blind - Trump seeks to flip 'Rage' narrative; Dems block COVID-19 bill Overnight Health Care: Senate Democrats block GOP relief bill | Democrats reveal Medicaid chief's spending on high-paid consultants | Trump calls question about why he 'lied' about COVID-19 a 'disgrace' 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 Trump Donald John TrumpBarr criticizes DOJ in speech declaring all agency power 'is invested in the attorney general' Military leaders asked about using heat ray on protesters outside White House: report Powell warns failure to reach COVID-19 deal could 'scar and damage' economy 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.