Can I skip my masters and go on to getting my PhD in Physics?

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I am currently a sophomore in college majoring in Physics. I was wondering after my undergraduate can I skip my Masters and move onto my PhD ,if so how much of a risk would it be? I honestly don't want to end up teaching as a career ,but rather be researching instead. All I really know right now is my PhD could be paid for...is that true?
 
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My impression is that many PhD students often have an unsatisfactory knowledge of the basics...
 
In the US, almost all physics graduate programs are immediate PhD programs. Typically, the first 1-2 years are spent taking classes and doing light research, which is effectively the 'masters' portion of the program. After that, besides a few classes here and there, it's full time research. A lot of programs won't even give you the masters degree unless you either a) go out of your way to request it or b) fail to get a PhD.

Also in the US, it's almost gauranteed that your tuition will be paid in full by the physics department. On top of that, you will be given a stipend (16k~35k) for your services as a teaching/research assistant.