I received a 1st Class medical certificate in May 2005. Do I qualify for BasicMed? One of the requirements for BasicMed is:

Comply with the general BasicMed requirements (possess a U.S. driver's license, have held a medical after July 14, 2006).

I received a 1st class medical certificate in May of 2005. I was under the age of 40, so it would have been valid for 12 months, expiring in May 2006 (i.e., just before the BasicMed cutoff).
That said, it would have still been valid for an additional 24 calendar months (i.e., until May 2008, well into the BasicMed era) as a 3rd class medical. Am I correct in my understanding that this qualifies me for BasicMed?
Thank you.
Your first-class medical certificate issued in May 2005 granted, since you were under 40 at the time:

First class privileges until May 31, 2006
Second class privileges until May 31, 2006
Third-class privileges until May 31, 2010

Since that last date is after July 14, 2006, then assuming it expired valid and you have not applied for another medical certificate since, you would qualify for BasicMed.