The economic impact of a COVID-19 illness from the perspective of families seeking care in a private hospital in India

•The total cost of a covid admission for levels 1,2 and 3 were $934, $1507 and $3611.•The proportion due to the direct medical cost for the levels was 66%, 77% and 91% of the total cost.•The factors associated with high costs were the age group of 40-60, male gender, oxygen and NIV use, ICU care, duration of hospital stay and Wave 2.•The lockdown rendered families financially vulnerable and over 36% of households had to resort to multiple coping strategies.