Identifying patients at risk for readmission after severe acute respiratory syndrome coronavirus 2 (SARS‐CoV‐2) infection could facilitate care planning and prevention. This retrospective cohort study of 60‐day readmission included 105 543 COVID‐19 patients at 21 US healthcare systems who were discharged alive between February 2020 and November 2021. Generalized linear mixed regression analyses tested predictors of 60‐day readmission and severity. The all‐cause readmission rate was 15% (95% confidence interval [CI] = 10%–21%), with 22% (95% CI = 18%–26%) of readmitted patients needing intensive care, and 6% (95% CI = 05%–07%) dying. Factors associated with readmission included male sex, government insurance, positive smoking history, co‐morbidity burden, longer index admissions, and diagnoses at index admission (e.g., cancer, chronic kidney disease, and liver disease). Death and intensive care rates at readmission declined postvaccine availability. Receiving at least two COVID‐19 vaccine doses, which were more common among older patients and those with comorbid conditions, was not independently associated with readmission but predicted a reduced risk of death at readmission. This retrospective cohort study identified factors associated with all‐cause readmission for patients re‐admitted to the same health system after hospitalization with SARS‐CoV‐2 infection. Patients who are male, who smoke, who have a higher comorbidity burden, and have government insurance may benefit from additional postacute care planning.