He also called for the creation of a healthcare law that would reduce insurance costs to as little as $1 a day for at least some consumers.
"What I'd like to do is legalize inexpensive insurance, and you should be able to get insurance for $1 a day. I mean, you really should," Paul said on MSNBC's "Morning Joe." "The insurance companies make all the money; all of this is predicated upon still propping up the insurance companies."
Paul's comments came a day after Republican leaders in the Senate unveiled their highly anticipated plan to repeal and replace large parts of the Affordable Care Act.