And we know that in all things God works for the good of those who love him, who have been called according to his purpose. - Romans 8:28
In an interview with Laura Story about the story behind the song she says:
"I think we have to have a different definition for blessing than just "health, wealth and prosperity." It has to be something different, because there's too many people that don't fear God that are living seemingly prosperous lives, and there's too many people that walk with the Lord that suffer."