This study made comparisons of self-reported functional and general health status between Chinese women and men in different age-groups in rural and urban settings and examined multiple factors relating to these health statuses in older adults. This study included a sample of 4017 respondents, aged 55 years and older, from the Hubei subsample of the Chinese National Health Service Survey III in 2003. The results illustrate that the differences in self-rated functional and general health status between genders and between urban and rural areas diminished with age. Access to health care was strongly associated with health status. The quality of the local environment, measured by access to tap water, was a significant factor for rural residents. Our study suggests that improving access to health care services and reducing environmental health risks are critical for improving physical functioning, psychological functioning, and self-rated general health for older adults in China.