Merriam-Webster Unabridged doesn't list “policy-maker” or “policymaker.” This may be taken to mean that MW considers it two words: “policy maker.” The American Heritage Dictionary, however, lists “policymaker” as one word, no hyphen. And while we're at it, MW thinks “policyholder” is one word.

Is policymaker a word?

a person responsible for making policy, especially in government.

What policymaker means?

'Policy maker' is a broad terms that covers all the people resposible for formulating or amending policy. ... Policy makers tend to be approached by a large number of people hoping to influence their policies, from lobbyists and interest groups, to constitutents or academics.