Is the Hail Mary a prayer?

The Hail Mary is [very often called a 'prayer'.](https://christianity.stackexchange.com/q/995/6071) Some Catholics like to distinguish between 'praying', which is only said to God, and 'asking' which is acceptable for the deceased saints. So is the Hail Mary a prayer (even though it's offered to Mary) or something else? Answers from any perspective which uses the Hail Mary would be welcome.