Rand Paul: Republican health care plan is an insurance bailout

Sen. Rand Paul said Friday that the Republican health care bill is an insurance bailout, which he doesn’t support.

“My problem is insurance companies already make $15 billion a year. I don’t think the taxpayer should give them any money. So I’m really opposed to giving money and saying will you lower your prices. I mean we could do this with cars. New cars are expensive. Why not have a new car stabilization fund?” Mr. Paul said on MSNBC.

Mr. Paul, a physician, said the main problem with health care is that the consumer is disconnected from the product.

“The reason capitalism doesn’t work in health care is the consumer is disconnected from the product. Consumers do not make decisions based on price in health care except for a few exceptions,” he explained. “When you connect with the consumer, and the consumer cares about the price, guess what? The consumer will shop. And when the consumer shops, competition works. But we’re not really doing that in health care.”

Mr. Paul said the current Republican plan only repeals two of Obamacare’s regulations, which he argues will not drop the price of insurance enough to be affordable.

He did say he believes that, like Obamacare, members of Congress will be mandated to sign up for the Republican plan if it passes.