• Current caregivers had less health satisfaction than never caregivers. • Former caregivers experienced better well-being than current caregivers. • There were no differences in depression scores amongst caregiver types. • Income is an important contributor to health outcomes across caregiver types. Older adults with physical and/or cognitive limitations frequently rely on informal caregivers who are often other older adults. This study compared health and well-being outcomes of self-identified, current older adult caregivers with those of former older adult caregivers and older adults who were never caregivers. The study was observational, using cross-sectional survey data. The sample consisted of 186 adults age 65 and older. Survey questions measured perceptions of depression, health satisfaction, and well-being. Regressions compared the outcomes of respondents in the three groups. Controlling for demographic factors, never-caregivers reported greater odds of health satisfaction compared to current caregivers. Former caregivers reported greater well-being compared to current caregivers. Findings suggest that older adulthood caregiving has impacts on health and well-being, both positive and negative. Because older adults are increasingly relied upon to provide informal caregiving, community and provider-based resources, policies, and interventional research addressing unique needs of older caregivers are needed.