Collins, 26, suffered a season-ending ACL tear back in October of last year, which forced the Bears to place him on injured reserve. He played in just five games and totaled 13 tackles and a sack.
Pro Football Focus has Collins rated as the No. 30 defensive tackle in the league last season, although he played just 247 defensive snaps.
Palmer, 29, was a former sixth-round pick of the Redskins back in 2008. He hasn’t seen game-action since 2010 when he threw just three passes playing for the Bengals. He most likely have to compete for a roster spot in training camp.
It will be interesting to see if the Bears are able to re-sign Josh McCown or elect to take a quarterback at some point in this year’s NFL Draft.