Senator Rand Paul (R-Ky.) told Ed Henry that he could have his ObamaCare replacement plan ready as early as sometime in March.

Reacting to news that Aetna's CEO declared ObamaCare in the midst of a "death spiral," Paul said that former President Barack Obama "loaded [the law] with so many mandates" that it became unreasonable for healthy people to participate in the marketplace as intended.

Poll: 1 in 3 Don't Know ObamaCare & Affordable Care Act Are the Same

Trump Says ObamaCare Replacement May Take Until 2018

WATCH: Drudge Blasts Congress for Inaction; Rand Paul Responds

Paul said his plan will allow for people to buy so-called "catastrophic" insurance, high deductible plans that cover fewer ailments than comprehensive coverage, a practice that is illegal under ObamaCare.

Such plans, he said, would be a draw for young healthy people to purchase health insurance, and added that he will include language promoting the use of HSA's or Health Savings Accounts, in which people invest in their own care.

Paul said he hopes to have bipartisan support for his plan, which would need 60 votes in the 52-Republican-majority Senate to pass, remarking that both parties "should have the same goals" when it comes to insuring Americans.

This will be done "in the next month or two," Paul said. "We're not going to be talking about this in July."

What do you think? Watch the clip above and let us know in the comments below.

ObamaCare Architect: 'Americans Don't Understand What It Has Done for Them'

ObamaCare Architect: Replacing the ACA Will Take 'Many Months'

Judge Nap: Obamacare Order 'Truly Revolutionary,' Exactly What Trump Promised