Yes. The Medicare Part B and D premiums paid by you and your wife can
be entered for the self-employed health insurance deduction.
IRS Pub. 535 - Business Expenses
states: “Medicare premiums you voluntarily
pay to obtain insurance in your name that is similar to qualifying private
health insurance can be used to figure the deduction.”
Chief Counsel Advice (CCA) 201228037 further
expanded this to include premiums for coverage of a self-employed taxpayer’s
spouse and qualifying child or other dependent.