Subject to the availability of state funds and consistent with the federal Social Security Act, the human services department [health care authority department] shall create a medicaid waiver program and may by regulation provide prescription drugs to persons whose incomes are less than one hundred eighty-five percent of the federal poverty level and who:
A. are sixty-five years of age or older; or
B. have been determined to be disabled under the criteria established under the federal social security administration's disability determination rules as applied by the department.