Cook the rice according to package instructions and set aside.
Heat the olive oil in a large pot over medium heat. Add the sausage, onion, bell pepper, celery, garlic, and cajun seasoning. Cook for about 5 minutes until vegetables are softened and sausage is lightly browned.
Add the chicken broth, red beans, cayenne, ground sage, salt, ground black pepper and bay leaf. Bring the mixture to a boil then reduce heat to low and cover the pot. Simmer for 45 minutes or until the beans are tender.
Serve the red beans over rice!