1. Permitted options. Subject to the limitation of subsection 2, the board shall recognize as valid and binding a provision in a collective bargaining agreement between an employer and a recognized bargaining agent establishing any of the following:
A. Alternative dispute resolution systems that may include, but are not limited to, mediation or binding arbitration or the use of mediation and binding arbitration;
B. Preferred provider systems for the delivery of health care services or treatment;
C. The use of a designated or limited list of independent medical examiners;
D. Light-duty, modified job or return-to-work programs;
E. Vocational rehabilitation or retraining programs; or
F. A 24-hour coverage program.
2. Limitation. An agreement pursuant to subsection 1 may not diminish an employee's entitlement to benefits guaranteed by this Act. Any agreement in violation of this subsection is null and void.