This study explored the extent to which factors commonly associated with ne
gative outcomes of aging also predicted positive perceived health in a grou
p of community-dwelling older people. Questionnaires originally administere
d during a randomized trial of an HMO's outpatient group visit program supp
lied data from approximately 700 participants. Stepwise modeling identified
significant factors within categories of predictors of perceived health. H
ierarchical multiple linear regression then modeled the incremental importa
nce of theoretically-derived categories of factors. Many but not all of the
factors previously associated with negative outcomes of aging also predict
ed positive perceived health, accounting for 38% of the variation. The most
important predictors were fewer chronic conditions and no worsening of tho
se conditions, mobility and better physical performance status, and the abs
ence of depression. Gender, limitations in daily living activities, dementi
a, and utilization of services had little effect. The categories off factor
s associated with positive perceived health had cumulative, interdependent
effects.