This article examined the usefulness of the Health Belief Model (HBM) and other confounding factors in determining health behavior of individuals involved in hospital waste management and tested four components of HBM in relation to demographic variables, knowledge, and occupational practices of the respondents. The study revealed that the waste pickers had a lower level of knowledge, attitude, and safe practices than nurses and sweepers. Perceived Susceptibility and Perceived Severity were moderately associated with safe occupational practices among the respondents (p < 0.05). In addition, respondents with higher levels of education and income were more likely to have higher levels of Perceived Susceptibility, Severity, and Benefits. The study findings indicate that individuals with greater economic vulnerability might be at greater risk for not using proper protective measures in handling or picking hospital wastes in Bangladesh.