Evan Vucci, Associated Press
Republican presidential candidate, former Massachusetts Gov. Mitt Romney gestures during a campaign stop on Wednesday, July 18, 2012 in Bowling Green, Ohio.

JACKSONVILLE, Fla. — President Barack Obama says Mitt Romney and Republicans are set to make seniors pay thousands more for Medicare so the rich can get still more tax cuts.

Campaigning in Florida, Obama declared the GOP plan would tell the elderly, "You're out of luck. You're on your own."

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Obama spoke at a convention center in Jacksonville at the start of a two-day swing across Florida, a pivotal state in a tight election.

The House GOP plan — backed by Romney — would change Medicare from a fee-for-service plan into one where future retirees buy insurance using government subsidies. Republicans argue it would introduce competition and give seniors more choices. It would only apply to individuals who are 55 or younger, and would offer the choice to opt for the current Medicare system.