In this paper, we present a novel dual-band wearable compact flexible antenna for body-centric wireless communications (BCWCs). The design is based on a modified planar dipole with parasitic elements, meandered lines, and a rectangular reflector embedded into a hydrophobic rubber-textile multilayer substrate in order to get both good antenna performance and mechanical properties. The antenna's structure is analyzed and optimized in free space (FS), on a numerical and an experimental homogeneous flat phantom. The overall dimensions of the antenna are 50 mm × 40 mm × 4.6 mm and a prototype mass of 11 g, which makes it suitable for practical applications in BCWCs. The built prototype resonated at 2.47 GHz with a |S11|−26.90 dB and at 5.42 GHz with a |S11|−24.60 dB in the FS. The measured bandwidths are 500 MHz (2.2–2.7 GHz) and 1000 MHz (4.65–5.75 GHz) at lower and higher bands, respectively. The antenna exhibits a measured maximum gain of 1.17 dBi at 2.66 GHz and a radiation efficiency of 28.44% in FS. The 10 g average maximum specific absorption rate is 0.165 W/kg at 2.70 GHz and 0.520 W/kg at 5.24 GHz when the antenna is placed on the numerical phantom at net input power 0.1 W.