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.
Definitions of correctional institution. 1. a former prison in London notorious for its unsanitary conditions and burnt down in riots in 1780; a new prison was built on the same spot but was torn down in 1902. an institution where juvenile offenders can be held temporarily (usually under the supervision of a juvenile court)