Welcome to the forums, Joe Henderson, though I'm very sorry to hear that your budgie may be ill.
It's generally not recommended to medicate your bird's water, unless instructed to do so by an avian vet once a particular condition has been diagnosed, because doing so can have a number of effects that may be detrimental to your bird. You may wish to give us a little more detail as to what issues you are observing with your budgie's health, but please do bear in mind that we are not avian vets here so we are limited in the advice that we can give you. Just in case you are not already acquainted with avian vets in your area, this link may help you to locate one ...
After a suggestion by a member, @Abu Colo, the Mod Team decided to create a list of veterinarians around the world who see birds. This was something we had discussed a few years ago, but the task seemed so large that we didn't get very far. However, the need is there and we decided that the time...
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Once again, welcome to the Forums, and I hope that your little one will be ok