The word “benefits” is גְּמוּל: (ghem-ool’), which means a dealing, or to recompense, a benefit.

1. The first “Blessed Benefit” is FORGIVENESS! (Psa 103:1,2)

“Who forgiveth all thine iniquities.”

The word “forgive” means pardon. The word “iniquities” is עָוֹן, (aw-vone’) which means guilt, or punishment for iniquity.
The bottom line: Through the blood of Jesus Christ our sins are washed away, along with the stains of guilt and shame.

2. The second “Blessed Benefit” is HEALING! (Psa 103:)

“who healeth all thy diseases.”

The word “heals” is “רָפָא: rapha (raw-faw’), which means to heal. Jesus is Jehovah Rapha!

3. The third “Blessed Benefit” is Redemption! (Psa 103:4)

“Who redeemeth thy life from destruction.”

The word “redeem” means to act as a kinsman. Jesus like Boaz is our kinsmen redeemer.

4. The fourth “Blessed Benefit” is Renewal! (Psa 103:5)

“Who satisfieth thy mouth with good things; so that thy youth is renewed like the eagle’s.”

The word “renew” means repair. Isaiah wrote about our Lord renewing our strength and flying like an eagle.