Chuck's right - up to a point.
Remember when you were learning to drive? You probably thought changing gear was just a matter of pushing the pedals in the right sequence. You soon found out it was a lot more subtle than that and it took quite a bit of practice before your co-ordination would work in all conditions. Well landing's a bit similar.
You need to disconnect from the idea that the timing of pulling back the power is linked to the timing of the flare. The purpose of the flare is as Chuck says, to get you to the level attitude. I'd clarify that a bit by adding "stable and flying along the runway with the mains 2-3 feet above it". The power comes off once you've achieved that. If your rotation is spot on then the power will come off immediately but consider what happens if you get the rotation wrong:-
If for example you have a high rate of descent or an uphill runway or are heavily loaded the flare will absorb more energy than if you are lightly loaded, on a downhill runway or on a shallow approach. In the former case the speed will bleed off a lot more quickly and if you've pulled the power too soon you won't get the chance to put it back on before you hit. Mountain flying at high altitude in thin air and landing uphill on steep runways or snowfields really shows it up but you can get caught out just as well on any unfamiliar approach.
Conversely if you over-rotate and pull back the power at the same time you suddenly find you have ballooned to 15 feet above the runway with no power, no airspeed, and the stall warning blasting. A sudden descent from that height can spoil your day.
As your experience builds you'll find you can get the rotation spot on and once you know you've done it that's when you pull power.
There are various gotchas with landings. For example on an uphill runway it's easy to be a lot higher than you think you are. If it's a gusty day then a sudden gust will lift you or a sudden lull will drop you. If there's a strong wind it will die down as you near the ground and the reduction in headwind will reduce your airspeed and require more power.
Like learning to drive you don't get it by putting all of your concentration on one thing, it's a matter of developing a feel for it.
Don't worry and keep practicing.