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.
Social Institutions A social institution is a complex, integrated set of social norms organized around the preservation of a basic societal value. Obviously, the sociologist does not define institutions in the same way as does the person on the street.