DawnIsMyPunishment

Yes they are paid. They vary across the country depending on regional living costs. You basically get paid as an additional year of residency. I would guess the averages are somewhere in the range of 50-65K a year.

I'm not the OP, but am currently in a H&P medicine fellowship after internal medicine. You can actually do a really wide variety of things after fellowship. It depends on what you're interested in. Some of my co-fellows are getting hospitalist jobs at hospitals that are increasing their palliative med departments (so splitting time like 70/30 hospitalist/palliative), some are looking to do outpatient palliative medicine, some will work for hospices (either team physician or medical director), and some looking for academic positions to teach/do consult work with inpatient palliative services. So lots of opportunities. PM me if you have more questions and I'll try to answer :)

It's a one year fellowship after you finish residency. You can actually do it though several residencies (including things like pediatrics, anesthesia, or even emergency medicine), but the most common are either internal medicine or family medicine.