Haven't read it, but here are some of my initial thoughts. Hopefully I didn't misinterpret what was written above:
The private sector is going to go where most of the money is.
Healthcare will have lots of firms wanting to be in it, as that is where most of the demand is.
Unemployment insurance, welfare, etc will have fewer firms, as the demand isn't as large (in comparison).
Add onto this, there could be user fees on top of this guaranteed income stream, creating tiered systems (as Lanny pointed out). The US has this already with their public medicare and extra medical insurance systems.
Even with the flaws above, some people will have to choose whether to take their income as unemployment insurance (for food, housing) or for medicare. Those that have a steady job won't have this choice, and will be able to get more medicare with their standard dollar from the government.
I don't know whether this has been taken into consideration or not, but these are major, major flaws in the theory.
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