depends on what you mean by a "settlement."
a buyout (compromise & release) can't be forced by the court or either party. and it does close out all future benefits.
an award leaves future medical open.
I suspect they want the permanent impairment fixed thru an award or to get a C&R figure they can accept.
you should have a rating from your doctors and they want an exact amount determined.
if the parties do not want to buyout or can't agree on an amount, the permanent disability will be paid out in bi-weekly payments and medical care will be left open.
after 5yrs from the date of injury the disability can't be changed.
you can find out more from the fact sheet on PD here