What is the difference between blessed and bless'ed?

Both are correct

You are blessed.

If a priest gives you a blessing, you are blessed (blest), if you have much good fortune (a good wife, good health, many children) you may feel blessed.

A beatified saint is Bless-ed.

Held in reverance or venerated or honored like the Blessed Trinity, Blessed Virgin Mary, Blessed are the poor, etc.