OBJECTIVES To examine the link between discrimination, victimization and social standing on health-related quality of life (HRQL). This information is currently not known, but is crucial as it can aid decision makers in the design of cost-effective policies to reduce such victimization among specific minority populations. METHODS We used data from 6,194 females and males from a prospective cohort of youth that has been tracked for over 15 years. We specifically examined the impact of discrimination, victimization and social standing of sexual orientation minorities on their HRQL (using EQ-5D-5L). In 2013, participants reported sexual orientation (Completely Heterosexual [CH], Mostly Heterosexual [MH], Bisexual [B], and Lesbian/Gay [LG])). Participants previously reported past-year bullying victimization and discrimination (range: 1 [never] to 5 [several times/week]) and self-perceived social standing (range: 1 [top] to 10 [bottom]) in adolescence. Longitudinal, multivariable linear regression models were used to assess the effect of bullying and social standing in adolescence on sexual orientation HRQL score disparities in young adulthood, controlling for gender and age. RESULTS Compared to CHs, sexual minorities reported more bullying and lower social standing in adolescence and lower HRQL in young adulthood: MH HRQL score=0.880; B 0.845; LG 0.870 vs. CH 0.916 (all differences had p-values<0.05). When discrimination, victimization and social standing were added to the multivariable models, orientation-group effect estimates were attenuated ~10%, suggesting adolescent bullying and lower social standing partly explained HRQL disparities in young adulthood. CONCLUSIONS Our findings are a proof of concept that victimization is not only a social justice issue but imposes an economic burden on society, as evidenced by its impact on HRQL. Our findings can also be used in cost-effectiveness analyses of interventions to reduce stigma against sexual orientation minorities.