In the US, racial and ethnic minority individuals have higher rates of many psychological and physical health problems than Whites, and the experience of racial discrimination may partially explain these disparate health statistics. Given the harmful nature of discrimination, minority individuals may utilize a number of psychological resources to cope with and diminish the negative impact associated with the experience of discrimination. The current dissertation investigated the impact of modern day, subtle forms of discrimination referred to as microaggressions. Prior research has illustrated that the experience of perceived racism and microaggressions plays an important role in the physical and mental health of ethnic minority individuals. The current study explored subtypes of microaggressions and the rates at which different minority groups experience these microaggressions; the concurrent impact of different microaggressions on psychological health outcomes (i.e., symptoms of anxiety, depression, and substance use); the moderating role of coping strategies (i.e., ethnic identity formation, social support) on the relation between the experience of specific microaggressions and psychological health; potential racial or ethnic differences related to main effects of microaggressions on psychological health; and significant interactions between the potential moderators (i.e., racial identity formation and social support) and the experience of microaggressions. Results of the present study indicate that first, minority individuals report experiencing significantly more microaggressions than non-minority participants. Additionally, the experience of microaggressions varied by minority group identification. Second, the experience of microaggressions was associated with higher rates of problematic alcohol use, as well as symptoms of anxiety and depression. Third, aspects of racial/ethnic identity formation and social support were associated with lower rates of problematic alcohol use (but not anger or anxiety or depressive symptoms) among individuals who experienced microaggressions, suggesting a potential buffering effect of these moderators Finally, some racial differences in the correlation between these moderating variables and microaggression variables were found, which suggests that there are likely racial differences in the way that racial/ethnic identity formation and social support can be protective. Future research is needed to increase understanding of racial and ethnic differences in the protective nature of identity formation, social support, and other potential coping strategies. Clinical implications are discussed.