President Trump on Thursday announced he is "starting that process" of repealing and replacing Obamacare with his executive order to unilaterally change some aspects of health insurance coverage. 

Mr. Trump, surrounded by top administration officials, business leaders and Sen. Rand Paul, R-Kentucky, in the White House Roosevelt Room, praised his executive order as step towards repealing and replacing his predecessor's signature health care law. Mr. Trump, stuck with a Republican-led Congress that hasn't passed a bill to undo Obamacare, announced earlier this week that he is resorting to his "pen" instead.

Mr. Trump began to walk out of the room without signing the order, until Vice President Mike Pence reminded him.

"We've been hearing about the disaster of Obamacare for so long -- in my case, many years, most of it outside in civilian life," Mr. Trump said. "And for a long period of time since I've started running and since I became president of the United States, I just keep hearing 'repeal and replace, repeal and replace.' Well, we're starting that process, and we're starting it in a very positive manner."

Mr. Trump said the order will cost the federal government "virtually nothing," and will force insurance companies to start "fighting" to sign people up for care.

"But the competition will be staggering," Mr. Trump said. "Insurance companies will be fighting to get every single person signed up, and you will be hopefully negotiating, negotiating, negotiating, and you'll get such low prices for such great care."

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