They are similar in that they may both allow for an itemized deduction.
Medicare is considered an itemized deduction for medical expenses so to the extent using the itemized deduction option as opposed to the standard deduction is beneficial, it may benefit you. TurboTax will pick up your Medicare premiums from your social security benefits statement when you enter your Form SSA-1099 if you receive benefits. Otherwise, you would have to enter them in Deductions and Credits section, under Medical expenses.
Although the deduction may be limited on your federal return, as mentioned by @Bsch4477 , it may be more easily deducted on your state return, as mentioned by @kaminjr .
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