You have a lot of important questions. As a basic rule, Social Security will pay you a monthly amount. There may be an offset due to workers compensation so if you settle that case the offset may still exist for a period of time. If you settle your lawsuit there should be no offset issue, unless you are receiving Supplemental Security Income (SSI) instead of Social Security Disability Insurance (SSDBI). As to Medicare the unfortunate truth is that if you settle a workers compensation case or lawsuit you MUST get preapproval of Medicare in respect to conditions related to those accidents. If you do not you could lose significant medical benefits. Definitely give your attorney a call and for more useful information check out www.markhofflaw.com.
If you are on SS and WC, then your SS may already be reduced due to your receipt of SS benefits. I have done WC and SS in Virgnia for 35 years. If you are on Medicare, you are not allowed to settle your WC compensation case without approval from Medicare. If you settle your personal injury case you may face similar limitations. If your attorney does personal injury, he should know the Medicare requirements.
THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can only be provided after consultation by an attorney licensed in your jurisdiction. Answering this question does not create an attorney-client relationship or otherwise require further consultation.