Renee, the beetle looks a lot like what is known as the colorado potato beetle around here. The "worm" looks like a larval form of another bug. In either case, you can spray with insecticidal soap or pyrethrins if you like to stay organic. These are good broad spectrum insecticides. If you do not need to stay organic, then Sevin is a good insecticide as well.
In terms of strength, I find the following order: Pyrethrins, Insecticidal Soap, Sevin. Pyrethrins act quickly but do not remain around long. Soap will wash away in rain or dew easily but stays on the plant unless washed away. Sevin hangs around for a bit even in mild rain or dew, unless you have some really heavy rain.
In general, BT (an abbreviated for a bacterium) will work against most caterpillar type insects that we run into.
Your sedum should recover nicely from treatment.
For treatment, follow label directions for what you use. Be sure to follow up a few days later to make sure the treatment was effective. If not, then try another option.
