The study investigates the health effects of subjective class position stratified by objective social position. Four types of subjective class were analysed separately for individuals with manual or non-manual occupational background. The cross-sectional analysis is based on the Swedish Level-of-Living Survey from 2000 and includes 4,139 individuals. The dataset comprises information on perceived class affinity and occupational position that was combined to conduct logistic regression models on self-rated health. An inverse relationship between self-rated health and the eight combinations of objective and subjective social position was found. Lower socio-economic position was associated with poor health. The largest adverse health effects were found for lower subjective social position in combination with lower occupational position. When the covariates education, father's occupational position and income were added to the model, adverse effects on health remained only for females. Subjective social position helps to explain health inequalities. Substantial gender differences were found. It can be assumed that subjective class position captures a wide range of perceived inequalities and therefore complements the measure of occupational position.