Keep Getting S.M.A.R.T. Error Message On Boot Up With NFW [Nothing Found Wrong]

I continue to get stopped in the middle of a start up and or a reboot on my Inspiron 530 with the:

NOTICE - Hard Drive SELF MONITORING SYSTEM has reported that a parameter has exceeded its normal operating range. 

Dell recommends that you back up your data regularly. A parameter out of range may or may not indicate a potential hard drive problem.

— S.M.A.R.T error, possible HDD failure. This feature can be enabled or disabled in BIOS setup.

Press F1 to Continue or Press F2 to enter the BIOS Setup...

I have had a momentary power outage from time to time with my house power but have never received this error message before.

I've run 3 different hard drive utilities for determining a S.M.A.R.T. error and fail to find anything wrong, if fact they give my drive a 97 to 98% overall health rating.

I find that in most forums around the net that the opinion more often than not is that is no reset or disablement in the BIOS setup settings.

I'm interested to know if I actually have to live with this error problem for the rest of this computer life, 

after all, why does it give the 'Press F2 to enter BIOS setup' option?