Objective: Our purpose was to examine how stability/variability in perceptions of control (PC) relate to a variety of health-related variables. Design: PC stability/variability across multiple domains was assessed in a longitudinal design including 318 adults, 72 to 99 years of age. Method: PC and health-related measures were obtained during in-person interviews conducted approximately 3 months apart. PC variability was assessed in relation to self-reported health outcomes (perceived health, chronic health conditions, functional status) and objective measures of physician visits and hospitalizations recorded over a 4-year period in a highly reliable and comprehensive database. Results: PC variability was associated with poorer health, poorer functional status, and more physician visits and hospital admissions, even after statistically controlling for mean PC level and direction-of-change in PC. Implications: Our findings suggest that health and well-being among very old individuals may be compromised by fluctuating levels of PC, or conversely, that stability in PC enhances health.