Experiencing hallucinations means that you are psychotic. It is possible to be bipolar and experience psychosis. If you are bipolar then the episodes of psychosis would only be present when you are manic or depressed. When your mood is "normal" you would not be psychotic. If, however, you are "normal" and psychotic but have experienced manic and depression then you would be diagnosed as schizoaffective disorder. If you don't have mood episodes but do have psychosis you would be labeled schizophrenic.