A dielectric coupling would fix the current on the water main.
However this 'fix' would introduce the safety hazard of having non-bonded grounding electrodes. This fix would violate the NEC if the dielectric coupling were inside your house.
I agree with iwire: replacing a few feet of water main outside of your house would both fix this 'problem', without introducing a violation.
That said, is it worth it?
There is very weak evidence of risk, and the magnitude of the risk is quite small. IMHO it is very likely that there is some real risk, but also very likely that the true problem is something _associated_ with small EMFs, and not the EMFs themselves. This could mean that fixing the EMFs would leave the 'true' problem, simply more masked.
Because of the current state of the data, I would not intentionally install a system that created EMFs, and would be willing to incur small costs to remove EMFs, but would not go to any large expense to fix an EMF issue and would not worry about any EMFs that were expensive to fix. Note that there are some code violations will cause EMFs, and should be fixed, not for the EMF issue, but for other significant safety hazards that they present.
-Jon