There is a strong call for marketing research that looks at the impacts of goods and services on consumer well-being, which gains greater momentum when it comes to low-income people (Bottom of the Pyramid). This article articulates a Conceptual Model of the relations among evaluations of health care services and the well-being of the client, that arises from an adaptation of the best of the models compared by Brady et al. (2005). A sample of low-income patients, leaving care public health units in the city of São Paulo, was gathered. The structural equations modeling supported the hypotheses that link Perceived Quality and Perceived Value, Perceived Quality and Satisfaction, Satisfaction and Individual Well-being. Expressive 35.1% of the Individual Welfare variance are explained by the Model. A positive (instead of negative) the classic conception. These empirical findings are confronted with the literature. Finally, scientific, managerial, and political implications are exposed. JEL Code: I3, I14, D31.