No; currently there are no medical certification requirements.However, in January 2008, the FAA will require a State Driver's License, as proof of the medical standard, to fly Light Sport Aircraft. Additionally, the pilot must not have been denied a FAA Medical Certificate. The Powered Parachute Pilot may let their FAA Medical Certificate expire, and then comply with the State Driver's License requirement.
Whether you have a FAA Medical Certificate or a valid State Driver's License, you are not legal to fly if you knowingly have a medical condition that would render you unfit to fly an airplane.
For the 'true' FAR 103 Ultralight Aircraft, no medical certifications are required.
