Wireless power transfer systems based on magnetic induction are usually modeled using the magneto-quasi-static approximation, and by neglecting skin effects and radiation losses. These assumptions imply that the extracted power can grow unlimitedly by increasing frequency or coil size. To bridge this gap, this work proposes general expression for the actual received power of magnetic induction-based energy harvesting transducer, extracting power from a given ambient magnetic field, while accounting for the high-frequency effects. A primary result is that the receiver’s output power is inherently limited by radiation losses at high frequencies and impaired by skin and proximity effects at medium frequencies. The approach provides a design tool for estimating the maximal power that can be delivered through a given transducer, and the optimal operating frequency.