Designs for the elderly should consider their characteristics and needs. However, in previous research, the role of the elderly has been chiefly as consultants or testers, and they rarely actively participate in the design process. This study integrates steps and methods based on experience based co-design and design thinking, developing an elder and youth co-creation model. This model is applied to the medication-assistance design closely related to the needs of the elderly, exploring the impact and benefits brought by the elder and youth co-creation model for both the elderly and young designers. In this research, nine elder individuals, ranging in age from 61 to 74, and eight graduate students, primarily from design fields, participated in the co-creation workshops. This study implements the elder and youth co-creation model in the form of workshops, organizing five co-creation workshops to address the existing medication problems of the elderly and redesign medication assistance. Focus group interviews are conducted after the end of the workshop. The results show that through this model, young designers can enhance empathy with users, discover the potential needs of target customers, and design products that meet the needs of the target customer group. Furthermore, the model can enhance the confidence level of the elderly in creativity and serve as a means to present the abilities and experiences of the elderly.