I have never worn a jersey with elastic. I hate it, it rides up horribly. I can't blame fat.. I weigh 106 and I'm 5' 1". Maybe it's because my hips are not like boys' hips? I have a couple of long sleeved, full zip thermal pieces with silicone grippers that are OK, though.
I used to wear Terry jerseys exclusively, but now I really like Voler's women's jerseys. They fit tightly, like race cuts, but no elastic. I tried Shebeest, but, the top part of the jerseys are just too big on me and often they are just too baggy.
I couldn't wear a men's jersey if I had to. It might fit over my hips, but the rest would be huge.
I think Terry jerseys would be a good solution for those who are looking for more stomach coverage. Some of their styles are looser (the tourer jersey), but not baggy. They also come in a large range of sizes.