It's all negotiable. Some settlements involve the parties agreeing that both medical and indemnity benefits continuing until the Judge approves the settlement -- other times, the parties agree that all benefits cease immediately.
Certainly if you don't have an attorney already, I wouldn't proceed with ANY settlement until you have spoken to somebody qualified. The impairment benefits ending could well be the least of your concerns.
Lump-sum settlements generally contemplate the future value of all benefits, including IIBs; so, yes, most often the parties will agree that all medical care and indemnity payments stop either on the date that the agreement to settle is reached or as of the date that the w/c judge enters the order(s) approving the attorneys' fees and allocation of any support arrearage (which is all that the judge is required to review). The parties can, however, agree to extend benefits well past settlement, if they want to do so.
If you are considering settlement, and you do not have an attorney, I would strongly suggest that you go hire one *before* you agree to any kind of settlement agreement. Even though the attorney will get a fee from the settlement, the amount that the attorney will be able to increase your net from what you could get on your own will almost certainly more than make up the difference.
Generally yes, but that is negotiable. As my colleague's have indicated, if you are not represented, I strongly suggest you consult an attorney. If you have reached a settlement on your own, it would have to first be approved by the Judge of Compensation Claims, so you may still have time. However, you should be careful when meeting with an attorney and have an agreement that if he or she cannot get you more money, they will not take a fee. That has always been my policy, so if the attorney does not agree, move on.