As was mentioned above a cowitness with optic and BUIS does not mean you use them together when shooting. A cowitnessed setup allows you to use your BUIS through your optic if it fails.
Another reason a cowitnessed setup is nice is that it allows you to quickly confirm that your optic or BUIS is still zeroed correctly.
There are currently two types of cowitness setups. Absolute cowitness puts both optic and BUIS on the same plane, think of an EOTech mounted directly to the receiver. Then there's the lower 1/3 cowitness which puts the BUIS in the lower 1/3 of the optic sight picture, Aimpoints are usually cowitnessed in this fashion as well as the EOTech on a riser such as the LaRue mount.
There are pros and cons for each method but both work just fine and the choice really depends on what works best for the user.