Biological aging is a proposed mechanism through which social determinants drive health disparities. We conducted proof-of-concept testing of eight DNA-methylation and blood-chemistry quantifications of biological aging as mediators of disparities in healthspan between Black and White participants in the United States Health and Retirement Study (HRS; n=8231). We quantified biological aging from four DNA-methylation "clocks" (Horvath, Hannum, PhenoAge, and GrimAge), a DNA-methylation Pace of Aging (DunedinPoAm), and three blood-chemistry measures (PhenoAge, Klemera-Doubal method Biological Age, and homeostatic dysregulation). We quantified Black-White disparities in healthspan from tests of physical-performance, self-reported limitations to activities of daily living (ADLs), and physician-diagnosed chronic diseases. DNA-methylation and blood-chemistry quantifications of biological aging were moderately correlated (Pearson-r range 0.1-0.4). GrimAge, DunedinPoAm and all three blood-chemistry measures were associated with healthspan characteristics (10-25% increase in risk per SD of biological aging) and showed evidence of more advanced/faster biological aging in Black compared with White participants (Cohen's d=.3-.5). In mediation analysis, these measures accounted for 19-48% of Black-White differences in healthspan-related characteristics. Evidence that Black Americans are both biologically older and aging more rapidly than White Americans of the same chronological age suggests that differences in aging may represent a novel pathway to understand and eliminate health disparities.