Senator Rand Paul (R-Ky.) discussed his plan to replace ObamaCare pending a repeal after President-elect Donald Trump takes office.

He said a replacement plan must be ready to be passed the same day a repeal vote is tallied.

Paul said his own plan covers three distinct points: allowing any type of insurance product be sold, offering tax credits for Americans to utilize in association with Health Savings Accounts, and allowing individuals to purchase insurance in groups, a provision he says will allay fears about 'preexisting conditions'.

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My plan is a consensus of numerous Republican replacement plans, Paul said, "very little I've put together is an original idea."

"ObamaCare is failing because it increased the cost of insurance for young people," Paul said, "you can't let people wait until they're sick to buy insurance [because it will] bankrupt the system."

He said he hopes some moderate Democrats in the Senate will work together on a viable ObamaCare replacement that will thereafter be signed by Trump.

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