Folate and folic acid are forms of water-soluble Vitamin B. Folate occurs naturally in food such as dark green vegetables, while Folic Acid is a synthetic vitamin. Folate (and Vit B12) are primarily ordered to detect deficiencies and to help diagnose the cause of certain anemias. One type of associated anemia is pernicious anemia, an autoimmune disease that affects the absorption of B12.