I was prompted to write because I actually felt that perhaps the public were being somehow sold a pup. I mean 'well-being' - it sounds wholesome, reassuring and cuddly so go on - take hold, give it a hug and look after it. Maybe it literally is a case of - get up and take it for a walk. You know you need to!
What well-being does do is it forces acknowledgment of physical AND mental well-being. In the summer I bought a copy of the British Journal of Wellbeing [BJW]. BJW features physical and mental health with some really interesting features, reviews and interviews. So, I raised my hands, sighed, stretched (felt much better) and accepted "OK well-being (or wellbeing*) it looks like you will go far."

More to follow on BJW and well-being ...
http://www.dictionary.net/well-being
*I like hyphens as in socio-technical