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.
Dictionary entry details. â¢ EDUCATIONAL INSTITUTION (noun) Meaning: An institution dedicated to education. Classified under: Nouns denoting groupings of people or objects. Hypernyms (educational institution is a kind of...): establishment; institution (an organization founded and united for a specific purpose) Hyponyms (each of the following is a kind of educational institution): preschool (an educational institution for children too young for elementary school) school (an educational institution) school (an educational institution's faculty and students)