The basics of BasicMed
A general aviation pilot can fly under BasicMed by fulfilling these requirements:

You must have a current valid driver’s license,
You must have held a medical certificate that was valid at any time after July 15, 2006,
You must not have had your most recent application for a medical denied,
You must complete a physical exam with a physician — it does not have to be an Aviation Medical Examiner —every four years, and
You must complete an online medical course every two years. Courses are offered by the Aircraft Owners and Pilots Association (AOPA) and the Mayo Clinic.

BasicMed also limits the type of flying you can do:

Your aircraft must be certified for six occupants or less,
You can only fly five passengers, plus yourself as PIC,
The aircraft is limited to 6,000 pounds takeoff weight,
Flights can only be within the U.S. and U.S. territories, as well as the Bahamas, which has accepted BasicMed,
You must fly below 18,000’ MSL,
You must fly at 250 KIAS or less,
You cannot not fly for compensation or hire.

Gibt noch weitere Bedingungen, so verlangen viele Versicherunge in den USA bei Basic Med +70 ein jährliche Untersuchung.