Yes, it comes for free.  A short exact sequence of *abelian* groups, or modules, splits iff it cosplits iff the middle term is the sum of the other two terms (sorry if I misread and you already know this!).  The key here is that maps of modules and be added/subtracted:

Let the middle maps in 0&rarr;A&rarr;B&rarr;C&rarr;0 be f:A&rarr;B and g:B&rarr;C.  Then if there's a splitting q:C&rarr;B, then (1<sub>B</sub>-qg):B&rarr;B is a projection onto A as a submodule of B, i.e. a cosplitting.  Together the splitting and cosplitting exhibit B as the direct sum of A and C.

A dual trick shows that a cosplit sequences are split: if p:B&rarr;A is a cosplitting, then (1<sub>B</sub>-fp):B&rarr;B is a projection onto a submodule of itself which is isomorphic to C via g, i.e. a cosplitting, so again B is the sum of A and C via these maps.

More generally, this works in any abelian category.