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.
Princeton's WordNet(4.00 / 1 vote)Rate this definition: 1  institute(verb) an association organized to promote art or science or education. 2  establish, found, plant, constitute, institute(verb) set up or lay the groundwork for. 3  institute, bring(verb) advance or set forth in court.