Not sure if other schools have "honor programs", but Rho Chi honor society was it at mine. Top 20% of the class is given the opportunity to join. We did a few events and had several speakers, plus its something you can add to your CV, but the main benefit was some networking opportunities. Our Rho Chi adviser was renowned in the infectious diseases field, an area I was interested in, and he wrote one of my letters of recommendation for residency. Besides, life time membership is only ~$50 so it's worth it in my opinion.