A theoretical model of risk and protective factors affecting the perceived health of children of immigrants in the United States was tested using data from the 2002 National Survey of America's Families. The dataset provided a nationally representative sample of 5764 children in immigrant families. The model explained 9% of the variance in perceived health, 31% of the variance in health insurance status, and 9% of the variance in having a usual source of health care. Perceived health was directly affected by societal reception (based on race/ethnicity) and family income. Health insurance served as a mediating factor between perceived health and family income, governmental reception (i.e., immigration status), and citizenship. Having a usual source of care did not affect perceived health, nor did other hypothesized factors, including family composition, state-level concentration of co-national immigrants, and state welfare safety nets. Implications for health policy and future research are discussed.