“I am well,” or “I am good” is a question I’m commonly asked.
This is a tricky question. One way to look at it is whether “feel” is an action verb or a linking verb. Another way is to look at “well” as a state of health or an adjective.
“I am well.” is a formal reply to the question ” How are you?” In this case, “well” is an adjective describing a state of health. However, there are many informal statements related to this question which are acceptable in normal conversation including “I feel good.”
Normally good is an adjective, a word which modifies a noun. “My health is good.”
Well is an adverb which modifies a verb “I paint well”; however ‘well’ is also noun describing health so in this sense “I am well” is acceptable.
If I say “I feel well” it could mean I have a lot of sensitivity in my fingers: I’m really good at feeling. I may be able to feel the proverbial pea under a mattress while I lie on my death bed.
If I say “I am good” it could mean I judge my character to be good: I am a good person. I could be in the final stages of leprosy; however, so my health is not good.
It’s never as simple as you think.