As of Nov 3, 2010.

" SSA recently obtained a legal opinion from the FAA office of Chief Counsel stating that pilots who carry only a Private, Single Engine Land (SEL), pilot’s certificate may tow gliders or ultralights for compensation or hire. "

So a Private Pilot with a Basic Med medical may tow for compensation or hire at least as far as the FAA is concerned.

Brian

May have to be logged into SSA web site for link to work:
https://www.ssa.org/files/member/Pri...v5_2-27-11.doc