1. "It's good for you" or "It's beneficial"
This meaning is used when talking about something that has a positive effect on someone's health or well-being. For example:
* "Comer frutas y verduras hace bien." (Eating fruits and vegetables is good for you.)
2. "It does well" or "It works well"
This meaning is used when talking about something that performs its function well. For example:
* "El nuevo medicamento hace bien para la gripe." (The new medication works well for the flu.)
To understand which meaning is intended, you need to consider the context of the sentence.