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When you enter the amount you paid for Medicare Part B premiums from your Social Security statement, TurboTax will include that amount as insurance premiums paid, along with any other medical expenses you enter.
You will only be able to deduct medical expenses if the total of all medical expenses entered exceeds 7.5% of your Adjusted Gross Income and if your total itemized deductions exceed the standard deduction for this year. TurboTax would use the standard deduction instead if it gives you a larger deduction.
See this help article and this one for more information on medical expenses and how to report them in TurboTax.
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