The concept of stress as a cause of ill health has received much attention in social sciences. The distinction between stress exposure and perceived stress emphasizes the importance of cognitive dimension of stress. This quantitative study (N = 213) conducted in Ukraine in November 2022 collected self-reported cognitive data on stress exposure, perceived stress, and self-rated heath. The goals of the study included (1) testing if stress exposure and perceived stress differ in terms of breadth and depth of their impact; (2) isolating psychosocial factors that reduce stress; and (3) testing if individuals who have relocated within Ukraine or abroad to escape the war had worse health outcomes than those who remained at their domiciles. The results suggest that while perceived stress was a stronger predictor of negative health outcomes, optimism and social support served as protective psychosocial factors. Having moved abroad predicted higher stress levels and more adverse health symptoms.