Medicare is a social insurance program that serves more than 44 million enrollees (as of 2008). The program costs about $432 billion, or 3.2% of GDP, in 2007.
The definition of an institution is an established custom or practice, or a group of people that was formed for a specific reason or a building that houses the group of people. 1  Marriage is an example of a cultural institution. 2  A town council is an example of an institution of government.
Words of Institution. The Words of Institution (also called the Words of Consecration) are words echoing those of Jesus himself at his Last Supper that, when consecrating bread and wine, Christian Eucharistic liturgies include in a narrative of that event. Eucharistic scholars sometimes refer to them simply as the verba (Latin for words).