The current study answers a need to provide information about bisexual as differentiated from gay/lesbian individuals and to increase understanding of the sexual minority stress experienced by bisexual individuals. Men and women who identified themselves as either bisexual or exclusively Lesbian/Gay (LG) were recruited nationwide and completed questionnaire measures of stressors associated with sexual orientation, openness about sexual orientation, conflict about sexual orientation, and depressive symptoms. Bisexual participants were younger and more likely to be female compared to LG participants. Bisexuals reported more conflict regarding their sexual orientation, were less open about their sexual orientation, and reported less minority stress associated with violence and discrimination. There were no differences in depressive symptoms for bisexual vs. LG participants. Bisexuals who were more open reported more conflict about their sexual orientation. Bisexuals who reported more stress associated with violence, harassment, and discrimination also reported more distress. Given the differences that emerged between LG vs. bisexual participants, future research should consider the importance of differentiating bisexual from LG individuals. Furthermore, this research provides evidence that sexual minority stress and openness about sexual orientation are important considerations in understanding the psychological functioning of bisexual individuals.