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.
The term institution is commonly applied to customs and behavior patterns important to a society, as well as to particular formal organizations of the government and public services. Religion and religious institutions-see sociology of religion; civil religion. 2  Educational institutions-schools (preschool, primary/elementary, secondary, and post-secondary/higher-see Sociology of education).